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MNI: Fed's Waller Backs At Least 75BP After ‘Major League’ CPI

(MNI) Washington
(MNI)

Waller says he'll look closely at reports on retail and housing.

The Federal Reserve probably needs to raise interest rates another 75 basis points at this month's meeting, Governor Christopher Waller said Thursday, but he could support a larger hike if demand doesn't show signs of slowing.

"We have important data releases on retail sales and housing coming in before the July meeting. If that data come in materially stronger than expected it would make me lean towards a larger hike at the July meeting to the extent it shows demand is not slowing down fast enough to get inflation down," he said in prepared remarks.

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The Federal Reserve probably needs to raise interest rates another 75 basis points at this month's meeting, Governor Christopher Waller said Thursday, but he could support a larger hike if demand doesn't show signs of slowing.

"We have important data releases on retail sales and housing coming in before the July meeting. If that data come in materially stronger than expected it would make me lean towards a larger hike at the July meeting to the extent it shows demand is not slowing down fast enough to get inflation down," he said in prepared remarks.

Keep reading...Show less