Fed Governor Waller Backs 25-Basis-Point December Rate Hike, Says 50 Is Possible Depending on Inflation
Summary
- Federal Reserve Governor Christopher Waller said he supports a 25-basis-point rate hike in December.
- Waller said the Fed needs to tighten monetary policy further because U.S. inflation remains too high and September inflation data was also unfavorable.
- Waller said the Fed may need to raise rates by 50 basis points in December if October core CPI rises by around 0.3% from the previous month or more.
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Federal Reserve Governor Christopher Waller said he supports raising the benchmark interest rate by 25 basis points in December.
Crypto-focused media outlet BlockBeats reported on November 10 that Waller said in a recent speech that the Fed needs to tighten monetary policy further. U.S. inflation remains too high, he said, and September inflation data was also unfavorable.
He was particularly concerned that inflationary pressure was spreading broadly across categories.
Waller said he would support a 25-basis-point rate increase in December even if October consumer price index data improves from September.
He added that the Fed may need to raise rates by 50 basis points in December if October core CPI rises by around 0.3% from the previous month or more.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.