After raising key interest rates by 75 basis points in four consecutive monetary policy meetings, US Federal Reserve Governor Christopher J Waller indicated that the Fed would consider a smaller-sized increase at the upcoming meeting.
Speaking at the 59th Annual Economic Forecast Launch event in Phoenix, Arizona, on Wednesday, Governor Waller said data from the past few weeks has led him to consider a 50-basis-point increase in interest rates during the upcoming monetary policy meeting. Made comfortable. "But I won't pass judgment on that until I see the next PCE inflation report and other data, including the next jobs report," Waller said.
Waller said the federal funds rate could still be raised fairly quickly, with as many as 50 basis point increases at times, which would be an accommodative monetary policy. In nine months, the US Fed has increased the target range for the federal funds rate from zero to 3.75 and 4 percent. He said raising interest rates is one tool that usually helps. It creates pressure on the demand in the economy which helps in reducing the rate of inflation.
Inflation in the US remains at a high rate. This situation is due to the post-coronavirus situation, supply-demand imbalance, high food and energy prices, and widespread price pressures. US consumer inflation eased from 8.2 percent in the previous month to 7.7 percent in October but is still well above the target of 2 percent.
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