Fed’s Waller says central bank’s next rate move depends on upcoming inflation report
Summary
Federal Reserve governor Christopher Waller said the Fed’s decision to raise interest rates later this month depends on the inflation report due on September 11. If inflation remains low, he may keep rates steady, but if inflation rises, he might support increasing rates.Key Facts
- The inflation report for August will be released on September 11.
- Waller said inflation data will influence whether the Fed raises interest rates in September.
- If inflation stays low or cools, Waller favors keeping rates unchanged.
- If inflation increases (“comes in hot”), Waller may support a rate hike.
- Borrowing costs currently only slightly reduce consumer and business spending.
- Other Federal Reserve officials have mixed views on needing more rate hikes.
- Fed Chair Kevin Warsh indicated more rate hikes might be necessary.
- Wall Street investors increased bets on a September rate increase after Warsh’s comments.
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