The outlook for the economy was bright and the labor market was close to the Fed’s goal of “maximum employment,” Fed Gov. Christopher Waller said.
The Federal Reserve should quickly start to raise its benchmark interest rates next year given “alarmingly high” inflation readings, said Federal Reserve Gov. Christopher Waller on Friday.
Fed watchers have begun debating whether the Fed would raise its benchmark interest rates in March or wait until May. Waller’s comments won’t end that debate, but he appears to be tilting toward an earlier start. Waller also said the Fed should start to shrink its balance sheet in 2022 – within a couple of meetings after the first hike.
Waller disputed suggestions that there was a dovish tilt to the Fed decisions this week – saying there was an “amazing change of direction” toward tighter policy.
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