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

(MNI) WASHINGTON

Waller says investors should "take a deep" breath before jumping to conclusions based on one month's report.

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.”

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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.”

Keep reading...Show less