Fed Governor Christopher Waller said in a speech that the upcoming data over the next few months is unlikely to clearly indicate that the terminal rate has been reached.
Waller stated, “I do not support stopping rate hikes unless we get clear evidence that inflation is moving down towards our 2 percent objective.”
He went on to say that the decision about whether to raise rates or hold off in the upcoming June meeting would be contingent on the data collected over the next three weeks.
Waller noted, “We will get additional labor market data, with some information about wages, and additional inflation numbers in the next few weeks that will continue to shape my view on where we stand relative to the FOMC’s dual mandate.”
