Fed's Waller (Voter) says he expects further tightening "sooner rather than later" to return inflation towards 2% over the medium term
ORIGINAL · NewsquawkFed's Waller (Voter) says he expects further tightening "sooner rather than later" to return inflation towards 2% over the medium termRead originalHide original
A 0.3% MM rise in US October CPI would indicate inflation is moving away from target and would require more aggressive policy action. Does not think we will see broad-based productivity gains from AI for a while. In the context of recent equity moves, says that is generally not too important for his monetary assessment. Revised up his neutral view, and in that context, policy is not as tight as he thought it might be some 18 months ago.
Waller expects further tightening, linked his policy assessment to October CPI, and said his neutral-rate view had risen; he also commented on AI productivity and equity moves.
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A 0.3% MM rise in US October CPI would indicate inflation is moving away from target and would require more aggressive policy action. Does not think we will see broad-based productivity gains from AI for a while. In the context of recent equity moves, says that is generally not too important for his monetary assessment. Revised up his neutral view, and in that context, policy is not as tight as he thought it might be some 18 months ago.
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