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

Published 05/30/2022, 12:51 PM
Updated 05/30/2022, 12:56 PM
© 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. 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."

Latest comments

So he wants inflation go away easily with a few rate raise, when oil is at $117 and NG is at 8.6?
middle class was a temporary fantasy you will own nothing and be happy
bark bark bark no ***FED will bankrupt america any higher then 4.5 basis points neber get above 3.5
looplooploop same brabrabra by Fed. "FED" up hearing from them
Go go fall of the credit and real estate market, 2008 2.0 ! Gonna get more gold. This aint gonna land softly. At all.
Why not increase the interest rate in one go by 500 basis points so it is in line with inflation
cant wait to buy my lunch for $420
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
Not asleep, Fed is comatose.
Good luck getting inflation under control with $6 diesel. I totally trust these experts who sat around and did nothing all last year.
suddenly they wake up. my prediction? inflation will reach 15 % sooner than you think.
Oil price hitting all time highs indicates growth potential of EVs like Tesla is exaggerated too much. TSLA might be worth low teens.
It will around 12-18 months....it's long process, I must say first control crude prices
Yes. Fed should jack up 75 bps at least at next two meetings. Retail gas price hitting all time highs and stock market pumping are inflationary.
Gas prices are high because of limited supply and high demand, not inflation. Gas prices also feed into the price of every product as goods need to be transported to their destination. If prices are to come down gas shortage will need to be dealt with.
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