7/7/2022, 7:34 PM (Source: TeleTrader)
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Fed's Waller backs 75 bps rate hike at July meeting

Member of the Federal Reserve Board of Governors Christopher Waller stated on Thursday that he backs an interest rate hike of 75 basis points at the July meeting.

Speaking at the National Association for Business Economics, Waller stressed that he would probably support an increase of 50 basis points at the September meeting while adding that it is not clear if there will be a recession despite the news on GDP.

Inflation needs to be under control. However, as the year's second half approaches, there will be more clarity to move according to data. "I personally think that some of the fears of a recession are kind of overblown," he added.

Baha Breaking News (BBN) / JG