Fed Governor Waller says he backs a December rate rise, and 50 basis points if CPI stays hot
Briefing by News4U · First published
Today Federal Reserve Governor Christopher Waller said in a speech in London that he would still support a 25 basis point rate increase at the December FOMC meeting even if October inflation improves, and that a 50 basis point hike should be considered if October inflation stays as hot as recent readings. Speaking at the Bank of England Watchers Conference, Waller said inflation remains well above the Fed's 2 percent goal and that September's data "were bad." If October core consumer prices rise by around 0.3 percent or more, he said, "hiking only 25 basis points would put our credibility at risk." He said these were his own views. [1]
Sources
- Speech by Governor Waller on the economic outlook
Federal Reserve · · Excerpt