Federal Reserve Governor Waller said further tightening is needed, calling US inflation too high and September data terrible. He said he would still back a 25-basis-point December hike even if October CPI improves, and that core CPI of about 0.3% or more could require 50 basis points.
The story so far: December Fed rate hike odds
Fed Governor Waller said he would back a 25bp December hike even if October CPI improves, and 50bp if core CPI is about 0.3% or more. Waller said the Fed needs to take back at least its last three precautionary cuts, but is not super hawkish and will not raise rates by 150 or 200bp.
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Waller says he will back a 25bp hike next month, 50bp if needed
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