Federal Reserve Governor Christopher Waller says the central bank is far from done in increasing interest rates as he urged “everybody to take a deep breath” after a lower than expected inflation print sparked a mega-market rally.
Dr Waller was speaking in a question and answer session in Sydney on Monday at the UBS Australasia conference. It came as7.7 per cent annualised inflation r“We’ve got a long way to go to get inflation down unless by some miracle incomes start dropping off very rapidly, which I don’t think anybody expects.”Dr Waller is a voting member of the Federal Reserve Board and considered one of the more hawkish members of the committee that sets interest rates.
The Federal Reserve, he said, knew it would face a challenge explaining that – even as it signalled that it would slow the pace of interest rate increases from 75 basis point to 50 basis point increments -- it was not softening its stance.
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