Federal Reserve Governor Christopher Waller on Friday echoed recent sentiments from his colleagues, saying he expects a big interest rate increase later this month. He also said policymakers should stop trying to guess the future and instead stick to what the data is saying. “Looking ahead to our next meeting, I support another significant increase in the policy rate,” Waller said in remarks prepared for a speech in Vienna. “But, looking further out, I can’t tell you about the appropriate path of policy. The peak range and how fast we will move there will depend on data we will receive about the economy.” … Markets strongly expect the central bank to take up its benchmark borrowing rate by 0.75 percent point, which would be the third consecutive move of that magnitude and the fastest pace of monetary tightening since the Fed began using the benchmark funds rate as its chief policy tool in the early 1990s.
Source: CNBC
