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10/6, 11:39 PM (Source: TeleTrader)
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Fed's Waller: Aggressive monetary policy needed

Member of the Board of Governors of the United States Federal Reserve Christopher Waller said on Thursday that "monetary policy can and must be used aggressively" in order to fight inflation, adding that the Fed should keep raising interest rates "until we see that progress is both meaningful and persistent," predicting they will continue "into early next year."

Waller warned that inflation is currently too high and far from the Fed's 2% goal "and not likely to fall quickly." He explained that the "slightly restrictive" policy stance is causing some adjustments, particularly in housing. He did not rule out a larger drop in demand and house prices "before the market normalizes" but stated that he is not considering slowing or stopping interest rate hikes out of concern for financial stability.

Baha Breaking News (BBN) / DJ