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Waller: Easing Bias Remains, Inflation Acceleration Not Going To Happen

FED

Fed Gov Waller in Q&A asked about the FOMC's forward guidance easing bias, doesn't give much away in terms of potential timing of the first cut:

  • I think right now the probability of rate hikes is low...would never say zero... I just don't see that happening - accelerating inflation's just not going to happen.
  • If the next move isn't up, it's likely to be down...but we're not saying when that would happen, that depends on the data.
  • As I said in my March speech, given how the data's coming in, it's appropriate to push off rate cuts into the future...they don't have to happen in the calendar year...but they could be out in the future...the bias is more likely to be to the downside than to the upside.
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