The Fed is under pressure to decisively make a dent in an inflation rate that is running more than three times its 2% goal and has caused a jump in the cost of living for Americans. President Joe Biden for a discussion called by the White House on state of the American and global economy. Waller's comments came ahead of a meeting on Tuesday between Fed Chair Jerome Powell and U.S. Until we get that, I don't see the point of stopping," Waller said following a speech to the Institute for Monetary and Financial Stability in Frankfurt, Germany, having earlier confirmed he wants that size of rate hike at the next "several" meetings.
"I am advocating 50 (basis point hikes) on the table every meeting until we see substantial reductions in inflation. Federal Reserve should be prepared to raise interest rates by a half percentage point at every meeting from now on until inflation is decisively curbed, Fed Governor Christopher Waller said on Monday, underscoring tensions at the central bank about how aggressively to tighten policy as it battles to bring down high inflation.
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