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Fed's Waller: If inflation doesn't go away, we need to raise rates a lot higher

Economy May 30, 2022 12:56PM ET
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© Reuters. FILE PHOTO: Hot dog sausages are seen in a supermarket, as inflation continues to hit consumers with the annual CPI increasing 8.3% in the 12 months through April, in Los Angeles, California, U.S. May 27, 2022. REUTERS/Lucy Nicholson

(Reuters) - The Federal Reserve needs to move interest rates much higher and soon if high inflation does not begin to subside, Fed Governor Christopher Waller said on Monday.

"If inflation doesn't go away, that... rate is going a lot higher, and soon," Waller said following a speech given to the Institute for Monetary and Financial Stability in Frankfurt, Germany. "We are not going to sit there and wait six months...I am advocating 50 on the table every meeting until we see substantial reductions in inflation. Until we get that, I don't see the point of stopping."

Fed's Waller: If inflation doesn't go away, we need to raise rates a lot higher
 

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Comments (12)
Sunny Yuen
Sunny Yuen May 30, 2022 6:27PM ET
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So he wants inflation go away easily with a few rate raise, when oil is at $117 and NG is at 8.6?
dar dar
dar dar May 30, 2022 3:24PM ET
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middle class was a temporary fantasy you will own nothing and be happy
John Cerniuk
John Cerniuk May 30, 2022 2:53PM ET
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bark bark bark no ***FED will bankrupt america any higher then 4.5 basis points neber get above 3.5
dav lo
dav lo May 30, 2022 2:53PM ET
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looplooploop same brabrabra by Fed. "FED" up hearing from them
Kelly Mayer
Kelly Mayer May 30, 2022 2:40PM ET
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Go go fall of the credit and real estate market, 2008 2.0 ! Gonna get more gold. This aint gonna land softly. At all.
Sunil Sugnani
Sunil Sugnani May 30, 2022 2:10PM ET
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Why not increase the interest rate in one go by 500 basis points so it is in line with inflation
Jake Might
Jake Might May 30, 2022 1:41PM ET
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cant wait to buy my lunch for $420
john sara
john sara May 30, 2022 1:38PM ET
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The FED remains essentially still asleep at the switch ! A series a 1% rate hikes are necessary to shake out the non industry "investors" who comprise 20-25% of the price of oil and gasoline
Santosh Oak
Santosh Oak May 30, 2022 1:38PM ET
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Not asleep, Fed is comatose.
Art Carrano
Art Carrano May 30, 2022 1:23PM ET
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Good luck getting inflation under control with $6 diesel. I totally trust these experts who sat around and did nothing all last year.
la popeye
la popeye May 30, 2022 1:21PM ET
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suddenly they wake up. my prediction? inflation will reach 15 % sooner than you think.
Kerry Ditto
Kerry Ditto May 30, 2022 1:11PM ET
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Oil price hitting all time highs indicates growth potential of EVs like Tesla is exaggerated too much. TSLA might be worth low teens.
 
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