Fed's Waller: Need more data to say Fed is done raising rates
|Federal Reserve (Fed) Governor Christopher Waller told CNBC on Tuesday that data will drive whether the Fed needs to lift rates again and added that he would need more data to say the Fed is done raising rates, per Reuters.
Key takeaways
"Recent data will allow the Fed to proceed carefully."
"Recent data gives Fed space before making next rate decision."
"The job market is starting to soften."
"Not surprising the unemployment rate has ticked up."
"Data is looking good for soft landing scenario."
"If inflation keeps coming down, economy is in pretty good condition."
"One more hike unlikely to send economy into recession."
"Job market is still very strong."
"Hard to determine monetary policy lags."
"Clear monetary policy lags are shorter."
"Until inflation comes down, Fed will have to keep rates up."
Market reaction
Despite these hawkish comments, the US Dollar Index retreated slightly ad was last seen rising 0.45% on the day at 104.65.
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