Economy

Fed’s Waller wants more evidence inflation is cooling before cutting interest rates

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Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022.

Al Drago | Bloomberg | Getty Images

Federal Reserve Governor Christopher Waller said Thursday he will need to see more evidence that inflation is cooling before he is willing to support interest rate cuts.

In a policy speech delivered in Minneapolis that concludes with the question, “What’s the rush?” on cutting rates, the central bank official said higher-than-expected inflation readings for January raised questions on where prices are heading and how the Fed should respond.

“Last week’s high reading on CPI inflation may just be a bump in the road, but it also…



Source cnbc.com

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