Federal Reserve Chair Waller said on Aug. 28 that the central bank still has "work to do" if policymakers cannot gain confidence that inflation is moving back to 2% at a clear and sufficiently fast pace. The remarks pointed to the possibility of another rate hike if price pressures fail to ease, while reaffirming the Fed’s long-standing approach of using interest-rate adjustments to manage inflation. According to the report, the comments sharply reduced the ambiguity left by his earlier remarks and increased the likelihood that the Fed’s next move could be a hike rather than a cut. The report also said that stance could put Waller at odds with President Donald Trump, who has long favored rate cuts. At a late-July press conference, Waller had declined to say much about whether higher rates would be needed to respond to inflation, which the report described as having risen sharply this year and stayed above the Fed’s target for more than five consecutive years.
Federal Reserve Chair Waller said Friday that if policymakers cannot be confident inflation is returning to 2% at a "clear and sufficiently fast pace," the Fed still has "work to do," according to BlockBeats on Aug. 28, citing Jin10.
The remarks suggested the central bank could raise rates next if price pressures do not improve. Waller also said he continues to back the Fed’s long-standing policy path of managing inflation through interest-rate adjustments.
The report said the comments significantly raised the chances that the Fed’s next move could be a rate hike. It also said that position could create friction with President Donald Trump, who has long pushed for rate cuts. The statement largely removed the ambiguity left earlier.
At a press conference in late July, Waller had declined to say much about whether rate hikes would be needed to address inflation, which the report said has surged this year and remained above the Fed’s target for more than five consecutive years.
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