• far too early to judge how Ukraine conflict will affect world or US economy
  • need 'concerted action' to rein in inflation
  • US rates should be increased a full percentage point by middle of this year
  • 'strong case' for half-point hike in March if incoming data indicates economy still exceedingly hot
  • in wake of Ukraine attack, it's possible a more modest tightening is appropriate
  • fed should start trimming balance sheet no later than at July meeting
  • caps on balance sheet runoff should be large
  • do not see the need for asset sales anytime soon; MBS sales could be considered down the road
  • would support having no caps on MBS redemptions
  • I believe we have met the Fed's maximum employment goal
  • 'far too high' inflation is 'alarming,' fed needs to 'act promptly'
  • expect u.s. economy to continue expanding at healthy rate
  • supply bottlenecks, labor shortages to diminish later this year
  • hopeful that with appropriate monetary policy, inflation will come down significantly by year end

Headlines via Reuters.

This detail:

  • “If tomorrow’s PCE inflation report for January, and jobs and CPI reports for February indicate that the economy is still running exceedingly hot, a strong case can be made for a 50-basis-point hike in March."

Waller tends towards the more hawkish (or less dovish) end of the FOMC spectrum As a member of the Board he has a vote.

Bullard has also said he supports a 1% point bump in the benchmark rate by mid-tear.