Fed’s Waller says may need to hold current rate for longer than expected, no rush to cut

Federal Reserve Board Governor Christopher Waller

• ‘Still no rush’ to cutting rates in current economy
• Fed may need to
  maintain current rate target for longer than expected
• Needs to see more
  inflation progress before supporting rate cut
• Needs at least a
  couple of months of data to be sure inflation heading to 2%
• Still expects Fed to
  cut rates later this year
• Economy’s strength
  gives Fed space to take stock of data
• Data suggests fewer
  rate cuts possible this year
• Economy is growing
  at a healthy pace
• Despite progress on
  inflation, recent data has been disappointing
• Data has showed
  mixed messages on jobs front
• Fed has made a lot
  of progress lowering inflation
• Wage pressures have
  been easing
• Unsure productivity
  will keep at current strong pace

more to come

This article was written by Eamonn Sheridan at www.forexlive.com.