Federal Reserve Governor Christopher Waller on Wednesday talked tough on inflation, warning that the fight is not over and could result in higher interest rates than markets are anticipating. Speaking to an agribusiness conference in Arkansas, Waller said the January jobs report, showing nonfarm payroll growth of 517,000, indicated that the employment market is “robust” and could fuel consumer spending that would maintain upward pressure on inflation. Consequently, he said the Fed needs to maintain its current plan of action, which has seen eight interest rate hikes since March 2022. “We are seeing that effort begin to pay off, but we have farther to go,” Waller told the Arkansas State University Agribusiness Conference in prepared remarks. “And, it might be a long fight, with interest rates higher for longer than some are currently expecting. But I will not hesitate to do what is needed to get my job done.”
Source: CNBC
