Fed Gov. Waller: Wants to see several more months of good inflation data

Fed’s Waller Comments:

  • Credit card and auto loan delinquency rates suggest some consumers are under stress.
  • Will be closely watching how private domestic final purchases fare in the second quarter.
  • Wage growth is still a bit higher than desired, but not excessively high.
  • Data on spending and the labor market suggest monetary policy is appropriately set to put downward pressure on inflation.
  • The economy seems to be evolving closer to what the Fed expected.
  • Data suggests inflation isn’t accelerating.
  • April inflation data suggests progress toward the 2% target has likely resumed, but progress was modest.
  • Further increases in the policy rate are probably unnecessary.
  • An exception would be a significant weakening in the labor market.
  • Needs to see several more months of good inflation data before being comfortable supporting an easing in policy.

This article was written by Greg Michalowski at www.forexlive.com. Source