Fed's Waller wants continued rate hikes until meaningful, persistent progress on inflation

Governor Christopher Waller is a member of the Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term Board of Governors

• I support continued rate hikes until we see meaningful, persistent progress on US Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term
• Monetary policy can and must be used aggressively to bring down inflation
• Likely not enough data before November meeting to significantly alter my view of economy
• I anticipate additional rate hikes into early next year
• Stance of policy is slightly restrictive, beginning to see some adjustment in sectors like housing
• Will have a 'very thoughtful discussion' about pace of tightening at next meeting
• Availability of swap lines, existence of standing repo facilities are a stabilizing force
• Not considering slowing rate increases or halting them due to financial stability concerns
• Markets are operating effectively
• U.s. Economy set for below-trend growth in 2H 2022
• Labor market strong, very tight
• The focus of monetary policy needs to be fighting inflation
• Cannot dismiss possibility of a larger drop in demand, house prices before market normalizes
• Friday's jobs report likely will not alter view fed should be 100% focused on reducing inflation
• Inflation is much too high, not likely to fall quickly

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Waller is giving a nod to being data-dependent in these comments. But not for the November meeting, there is not enough data ahead of that one.