Fed's Waller: Says he support tightening by 50 bps for 'several' meetings

• Policy should be above neutral by year end
• I'm not taking 50 bps off the table until inflation comes closer to Fed's 2% target
• Reduction in balance sheet equivalent to a couple of 25 bps hikes
• I'm optimistic the strong labor market can withstand higher rates
• Don't know how soon supply chain issues will abate
• Inflation is 'alarmingly high'
• Longer-run inflation expectations have moved up to a level consistent with underlying 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 a little above 2%
• I don't expect Q1 drop in GDP to be repeated

This is hawkish stuff with talk of 'several' 50 bps hikes coming against the 50/50/25/25 baseline that other Fed officials have endorsed. That said, Waller is a hawk so it's not entirely surprising.