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Waller: Something’s Got to Give
Thank you, Professor Scobie. Thank you to the European Economics and Financial Centre for inviting me to speak and for the honor of referring to me as a "distinguished speaker." I have noticed that people started calling me "distinguished" only after my hair turned white. I suspect that "distinguished" is a polite way of saying you are old. My subject today is one I trust is of interest in this center of global finance—namely, the outlook for the U.S. economy and the implications for monetary policy.1 It has been one year and seven months since the Federal Reserve began raising interest rates to rein in ... (full story)
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WALLER: TOO SOON TO TELL IF MORE POLICY RATE ACTION IS NEEDED
— *Walter Bloomberg (@DeItaone) October 18, 2023
WALLER: MORE ACTION ON POLICY RATE WOULD BE NEEDED IF DEMAND, ECONOMIC ACTIVITY KEEP UP RECENT PACE
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WALLER: IF REAL ECONOMY SLOWS, CAN HOLD POLICY RATE STEADY #News #Markets #live
— Capital Hungry (@Capital_Hungry) October 18, 2023
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Fed governor Chris Waller blesses a November pause:
— Nick Timiraos (@NickTimiraos) October 18, 2023
After that, if growth cools along the lines of the Sept SEP, then stay on hold
But if strong demand stalls recent progress on inflation, failing to respond "in a timely way” risks “unwinding the work that we have done to date" pic.twitter.com/EYJPsUWwZr