Christopher Waller News

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 interviewed by former Republican House Speaker and Wisconsin Congressman Paul Ryan at a high-profile GOP event in Utah. «The financial markets are tightening up and they are going to do some of the work for us...We are just keeping a very close eye on that.

Investing.com — U.S. stocks were rising as Treasury yields continued to ease, while investors await the release of the minutes from the Federal Reserve's September meeting. 

(Reuters) — Federal Reserve Governor Christopher Waller on Tuesday reiterated the U.S. central bank's determination to bring inflation down to its 2% target, but did not comment on the economic outlook or his view on the best immediate course for monetary policy.

By Shashwat Chauhan and Ankika Biswas

Investing.com -- Several Federal Reserve policymakers are due to deliver closely-watched speeches on Tuesday, with investors keen to receive any clues about how a recent spike in U.S. Treasury yields could impact the central bank's interest rate path.

Investing.com — U.S. stock futures rose Tuesday, boosted by lower U.S. Treasury yields as investors digested commentary from Fed officials while keeping an eye on developments in the conflict between Israel and Hamas.

Underlying U.S. inflation is seen rising at a monthly pace that corroborates the message from central bankers that interest rates will need to stay higher for longer.

By Ann Saphir and Michael S. Derby

Gold languished near one-week lows on Wednesday on strength in the dollar and Treasury yields, driven by expectations for U.S. interest rates to stay elevated for longer and worries about China's economy. Spot gold was flat at $1,926.30 per ounce by 1209 GMT, after hitting its lowest since Aug. 29 earlier in the session.

(Reuters) — The U.S. services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices for inputs — potential signs of still-elevated inflation pressures.

Boston Federal Reserve President Susan Collins on Wednesday advocated a patient approach to policymaking while saying she needs more evidence to convince her that inflation has been tamed.

Investing.com -- U.S. stock futures decline as investors gauge the outlook for Federal Reserve monetary policy and digest extended supply cuts by major oil producers Saudi Arabia and Russia. Elsewhere, new data later in the session on Wednesday will provide a look into the state of the key U.S. services sector, while China's Tencent prepares to unveil a new AI chatbot.

Investing.com — U.S. stock futures traded lower Wednesday, continuing the previous session’s selloff as stronger oil prices and global economic weakness weigh on sentiment.

rupee depreciated 29 paise to end near its two-week low of 83.04 a dollar. The yen was at 147.66 per dollar, just shy of 147.8 per dollar, the lowest since November 4 it touched overnight. The euro was unchanged at $1.0721, having breached a three-month low of $1.0705 overnight.

Investing.com — The Dow closed lower Tuesday, weighed down by rising Treasury yields, but a rally in energy stocks kept a lid on losses as oil prices climbed after major oil producers agreed to extend their oil production cuts.

Investing.com — The S&P 500 slipped Tuesday, but downside momentum was kept in check by a rally in energy stocks after major oil producers agreed to extend their oil production cuts offsetting China-fueled concerns about timid demand.  

But despite making significant progress, inflation remains above the Fed's long-term target of two percent. Meanwhile, the US jobs market has shown growing signs of softening in recent months, a key precondition for the Fed to contemplate an end to its cycle of monetary tightening. «That was a helluva good week of data we got last week, and the key thing out of it is it's going to allow us to proceed carefully,» Fed governor Christopher Waller said in an interview with CNBC, referring in part to last week's jobs data. «There’s nothing that is saying we need to do anything imminent any time soon, so we can just sit there, wait for the data, see if things continue,» he added. Waller's comments follow a similarly cautious view to Fed Chair Jerome Powell, who told the Jackson Hole economic symposium in Wyoming at the end of August that the Fed would proceed «carefully» from now on. Investors and analysts overwhelmingly expect the Fed to pause its hiking cycle at its next rate-setting meeting on September 19-20, while keeping the prospect of another hike later in the year alive. Futures traders currently put the probability of a rate pause in September at 95 percent, and the chance of another hike in November at around 40 percent, according to data from CME Group. On Tuesday Waller indicated the Fed should keep its options open in the months ahead. «I don’t think one more hike would necessarily throw the economy into a recession if we did feel we needed to do one,» he told CNBC.

Federal Reserve Governor Christopher Waller said Tuesday that the recent round of strong economic data will buy the central bank some time as it decides whether additional interest rate hikes are needed to control inflation.

By Michael S. Derby

Gold prices on Monday edged lower on Monday as the dollar strengthened, while investors largely bet on the U.S. Federal Reserve hitting the brakes soon on interest rate hikes. * Spot gold edged 0.1% lower to $1,952.58 per ounce by 0028 GMT.

US Federal Reserve policymakers favours more rate rises this year, saying July meeting likely to resume raising interest rates to tame the inflation. Though the Fed officials were encouraged by a slide in price pressures in June, but they’re don’t want to pronounce an end to their battle to rein in inflation that has repeatedly surprised them with its persistence.  “It’s really too early to say that we’ve declared victory on inflation," Bloomberg reported quoting Mary Daly, Federal Reserve Bank of San Francisco President’s CNBC interview.