Oddbean

Fed's Waller sees some progress on inflation, no rate hike needed ========== Federal Reserve Governor Christopher Waller stated that the latest inflation data is "reassuring" and that the U.S. central bank's policy rate is set appropriately. Waller believes that further increases in the policy rate are probably unnecessary as the data suggests that inflation isn't accelerating. He noted that the labor market remains strong and while consumer price inflation slowed in April, the progress was modest. Waller also mentioned signs of moderation ahead, such as flat retail sales in April and rising delinquencies on credit cards and auto loans. However, he stated that he would need to see several more months of good inflation data before supporting an easing in the stance of monetary policy. The Fed has kept its benchmark policy rate in the 5.25%-5.50% range since last July. Traders expect the central bank to deliver a first rate cut in September and see better-than-even odds of a second cut in December. #FederalReserve #Inflation #InterestRates https://www.cnbcafrica.com/2024/feds-waller-sees-some-progress-on-inflation-no-rate-hike-needed/