-
Fed Governor Christopher Waller on Interest Rates, Inflation & Growth
C. Peter McColough Series on International Economics With Christopher Waller. Federal Reserve Governor Christopher Waller discusses the U.S. economic outlook in the year ahead. The C. Peter McColough Series on International Economics brings the world’s foremost economic policymakers and scholars to address members on current topics in international economics. This meeting series is presented by the Maurice R. Greenberg Center for Geoeconomic Studies.
- Comments / Top
- Subscribe
-
Related Stories
Federal Reserve Governors Stephen Miran and Christopher Waller provided conflicting views on how quickly the central bank should lower interest rates in the face of a weakening labor market and heightened geopolitical tensions. Miran said Thursday he plans to repeat his push for a half-percentage-point interest rate cut when the central bank meets later ...
Thank you, Tom, and thank you to the Council on Foreign Relations for the opportunity to speak to you today. Since the Federal Open Market Committee's (FOMC) last meeting on September 16 and 17, economic data have tended to support my view of a labor market that is softening and inflationabsent temporary tariff effectsthat is running fairly close to the FOMC's 2 percent target. Based on what I know today, I support continued easing of monetary policy from its current setting, which I judge is moderately restricting aggregate demand and economic activity. But I also see a conflict right now between data showing solid growth in economic activity and data showing a softening labor market.2 So, something's gotta giveeither economic growth softens to match a soft labor market, or the labor market rebounds to match stronger economic growth. Since we don't know which way the data will break on this conflict, we need to move with care when adjusting the policy rate to ensure we don't make a mistake that will be costly to correct. I believe that how that process plays out in the coming months will have a significant impact on the path of monetary policy. FED'S WALLER BACKS OCTOBER RATE CUT IN THURSDAY SPEECH IN NEW YORK FED'S WALLER: GOVT FREEZE COULD LOWER 4Q GDP 'SEVERAL TENTHS OF A PERCENTAGE POINT' FEDS WALLER: IF JOB MARKET CONTINUES TO WEAKEN, FED SHOULD CUT TOWARD NEUTRAL RATE || NEUTRAL INTEREST RATE IS ABOUT 100 TO 125 BASIS POINTS LOWER THAN CURRENT FED FUNDS RATE Fed's Waller: Rate outlook post-October hinges on labor market data
FED GOV WALLER Q&A/CFR: NOTHING WRONG WITH FOMC DISSENTS; THEY DON'T REFLECT LOSS OF FAITH IN THE CHAIRMAN; NEED VARYING VIEWS #Waller #FederalReserve #economy FED GOV WALLER Q&A/CFR: CUTS IN IMMIGRANT LABOR MASKING SOFTENING OF LABOR DEMAND; NEVER SEEN BEFORE FALL IN LABOR SUPPLY AND DEMAND; 'WEIRD' #Waller #FederalReserve #economy Fed's Waller: Next Fed balance sheet issue is composition of balance sheet. Fed's Waller: Policy more restrictive for some groups than others. FED'S WALLER: WOULD BE GOOD FOR FED TO REFRAIN FROM LONG RUN FORECASTS