Fed's Waller says he is in favour of raising the Fed Funds rate at the July FOMC meeting

Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term Board Governor Christopher Waller speaks on his economic and policy outlook before the Money Marketeers of New York University.

Headlines via Reuters:

• Favors raising rates at the July Federal Open Market Committee (FOMC) meeting
• Increasingly confident banking stress won’t derail the economy
• Fed likely to need two more 25 basis point rate hikes this year
• Cooler CPI data is welcome but need to see if it is sustained
• Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term has shown false dawns before
• Banking sector is strong and resilient
• While the job market has slowed, it remains very strong
• Monetary policy changes are moving through economy more quickly
• Bulk of past rate hikes already have impacted economy
• Fighting inflation remains main goal, Fed will succeed
• Jobs, economic strength gives the Fed space to hike further

Waller tends towards the hawkish end of the spectrum, its hardly surprising he is still thinking two more hikes will be needed. He argues (see above) that past rates hikes have pretty much already impacted on the economy, hence m,ore are needed.