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Sept 5 - 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% from 3.5% 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.
Financial markets believe the Fed's rate hikes are over. But Waller cautioned against making such an assumption, noting that the Fed has been burned before by data that appeared to show an improvement on the inflation front only to see price pressures come in stronger than expected. BOND MARKET Waller also noted that another rate rise, if needed, would not cause much damage to the labor market. While the unemployment rate has risen and there is evidence of a softer jobs market, hiring is still historically strong,"so it's not obvious that we're in real danger of doing a lot of damage to the job market even if we raise rates one more time," he said.
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