Fed's Waller: Should remove easing bias from statement
Federal Reserve (Fed) Governor Christopher Waller said on Friday that he does not expect to support a change in the policy rate in the near term, adding that the outcome will depend heavily on the length of the Iran conflict, per Reuters.
Key takeaways
"Labor market in balance and no longer the chief concern in determining path of policy."
"Should remove easing bias from statement, though not advocating a hike at this point."
"Concerned about rising expectations as Fed's inflation miss enters sixth year."
"If expectations start to become unanchored would not hesitate to support a rate hike."
"Inflation at risk of becoming more persistent, with price pressures broadening."
"So far high energy costs have not crimped consumer."
Market reaction
The US Dollar (USD) preserves its strength following these comments. At the time of press, the USD Index was up 0.2% on the day at 99.38.
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