Fed's Waller Backs December Rate Hike, Open to Larger Move
Summary
Federal Reserve Governor Christopher Waller said on Tuesday that he supports an interest-rate hike in December and is leaning toward one, according to CNBC. He warned that if inflation keeps accelerating, he would back a half-percentage-point increase to protect the central bank's credibility. Speaking at the Bank of England and Its Watchers event, he said more robust action by the FOMC may be called for if inflation comes in substantially higher than he expects. MarketWatch reported that he had put a half-point hike into the mix ahead of Labor Department data, which came in as hot as he feared. Bloomberg's video coverage tied his comments to a debate over a possible larger hike after October CPI data came in hotter than expected.
Timeline
Bloomberg
Source ↗Bloomberg reports that Fed Governor Christopher Waller said on Tuesday he supports an interest-rate hike in December and would back a half-point increase if inflation continues to accelerate, to protect the central bank's credibility.
CNBC
Source ↗CNBC reports that Fed Governor Waller said he "is leaning toward" a rate increase in December and could support a half-point hike depending on inflation data.
Bloomberg
Source ↗Bloomberg's video report says Waller supports a December rate hike and that if inflation comes in substantially higher than he expects, more robust action by the FOMC may be called for, speaking at the Bank of England and Its Watchers event.
MarketWatch
Source ↗MarketWatch reports that Fed Governor Chris Waller put a half-point rate hike into the mix for December ahead of Labor Department data, which came in as hot as he feared.
Bloomberg
Source ↗Bloomberg's video report says Waller's comments lit up debate over a possible half-point December hike after inflation data came in hotter than expected, and features PIMCO economist Tiffany Wilding reacting to the October CPI data.
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