The U.S. Federal Reserve needs to keep raising interest rates into early next year to bring down stubbornly high inflation, Governor Christopher Waller said on Thursday in a hawkish speech suggesting he sees little reason to ease the pace of Fed policy tightening.
“Inflation is far from the FOMC’s goal and not likely to fall quickly,” Waller said, referring to the Federal Open Market Committee at the U.S. central bank that sets interest rates for the world’s biggest economy. “This is not the inflation outcome I am looking for to support a slower pace of rate hikes or a lower terminal policy rate” than that projected by policymakers last month.
