Nick Timiraos, the 'Fed whisperer,' reports that Fed Governor Christopher Waller's stance has shifted from tightening bias to cautious optimism, now leaning toward holding rates steady. The final decision hinges on August inflation data. If inflation continues toward 2%, rates will stay; if data is high, a hike is possible.
The 'Fed whisperer,' Wall Street Journal reporter Nick Timiraos, said on Tuesday that Fed Governor Christopher Waller's overall position has not changed fundamentally since July, but his policy leaning has shifted from concern and a tightening bias to cautious optimism and a preference for holding rates steady. The final decision will depend on August inflation data. Waller's reaction function for the September 15-16 policy meeting is clear: if inflation continues to move toward the 2% target, hold rates unchanged; if August inflation data comes in high, consider a rate hike.
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