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Daly repeated her view that the recent run-up in long-term bond yields could substitute for a further Fed rate hike because the higher yields make it more expensive to borrow and can slow spending and investment.
Federal Reserve Governor Christopher Waller stated that higher market interest rates could help the Fed control inflation and allow them to observe if their policy rate needs to be increased. He mentioned that price data is moving towards the Fed's 2% target and that financial markets are tightening, which could impact their policy decisions.
U.S. Federal Reserve Governor Christopher Waller on Wednesday said higher market interest rates may help the Fed slow inflation, and let the central bank "watch and see" if its own policy rate needs to rise again or not. Waller, who has been among the most vocal advocates for higher interest rates to fight inflation, said price data seemed to now be moving back towards the Fed's 2% target, with financial markets adding further credit tightening of their own. "We're in this position where we kind of watch and see what happens on rates," said Waller, who was inter...
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