Speaking with CNBC, the Federal Reserve Governor says he currently sees nothing that would force a move toward boosting the cost of short-term borrowing again
Federal Reserve Governor Christopher Waller said on Tuesday the latest round of economic data was giving the U.S. central bank space to see if it needs to raise interest rates again, while noting that he currently sees nothing that would force a move toward boosting the cost of short-term borrowing again.
On Friday the U.S. Labor Department reported that the economy continued to gain jobs at a solid clip in August even as the unemployment rate shot up to 3.8 per cent from 3.5 per cent in July. That data was released during a week where there was fresh news on inflation, as markets continue to debate the need for more monetary policy tightening to tame inflation.
Whether interest rates go up again “depends on the data. I mean, we have to wait and see if this inflation trend is continuing,” Waller said. “I want to be very careful about saying we’ve kind of done the job,” adding that he wants to see “a couple of months continuing along this trajectory before I say we’re done doing anything.”
Waller brushed off a jump in bond market yields that will lead to higher headwinds for U.S. economic growth. Instead, he saw the increase as a hand-in-hand move with Fed policy actions.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed's Waller: Recent data gives space to decide next rate moveKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Read more »
Fed's Waller: Recent data gives space to decide next rate moveBy Michael S. Derby NEW YORK (Reuters) - Federal Reserve Governor Christopher Waller said Tuesday the latest spate of economic data is giving the ...
Read more »
Waller says recent data gives Fed space to decide next rate move, CNBC reportsMarket News
Read more »
Fed’s Waller Says Central Bank Can ‘Proceed Carefully’ With Rate HikesFederal Reserve Governor Christopher Waller said policymakers can afford to “proceed carefully” with interest-rate increases given recent data showing inflation continuing to ease.
Read more »
Feds pledge $1.8M in status quo funds to Northern Ontario AngelsFunded by FedNor since 2005, Northern Ontario Angels strives to link their network of 400 investors with entrepreneurs throughout the region
Read more »
Renault CEO: China very competitive on electric vehicles, Europe needs to catch upRenault's chief executive Luca de Meo said on Monday that China was 'very competitive' in terms of the electric vehicle market, as Renault also prepared to unveil its new Scenic electric vehicle car model. 'China is very competitive when it comes to the supply chain of electric vehicles....we need to catch up fast,' De Meo told RTL Radio, speaking from the IAA Munich car show. De Meo added that Renault would unveil the prices for its new Scenic minivan later in the year, with a launch planned in the first quarter of 2024.
Read more »