• Federal Reserve policymakers on Tuesday said it is prudent for the U.S. central bank to wait several more months to ensure that inflation really is back on a path to the 2% target before commencing interest rate cuts.
  • “In the absence of a significant weakening in the labor market, I need to see several more months of good inflation data before I would be comfortable supporting an easing in the stance of monetary policy” Fed Governor Christopher Waller told the Peterson Institute for International Economics in Washington.
  • In a separate appearance, Atlanta Fed President Raphael Bostic struck a similar tone to Waller, noting the central bank needs to be cautious about approving its first rate cut to be sure it does not touch off pent-up spending among businesses and households, and put policymakers in a position where inflation reaccelerates.

https://www.reuters.com/markets/rates-bonds/feds-waller-sees-some-progress-inflation-no-rate-hike-needed-2024-05-21/