Free Trial

MNI BRIEF: Better CPI ‘Just One Data Point’ – Fed’s Waller

(MNI) WASHINGTON

Federal Reserve officials need to see more than just one better-than-expected CPI report before they can become comfortable inflation is coming down consistently, Fed Governor Christopher Waller said Sunday.

“It was just one data point. The market seems to have gotten way out in front on this,” Waller said. “We’ve seen a couple of these before where it looked like inflation was turning and it took back off. We’re going to need to see a continued run of this kind of behavior, inflation slowly starting to come down, before we really start thinking about taking our foot off the brakes.”

Richmond Fed President told MNI in an interview last week the central bank may need to take interest rates higher than previously believed given stubborn and broad inflation pressures. Waller said: “Everybody should just calm down and take a deep breath. We’ve got a ways to go yet.”

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.