13:00 - 14.07.2023

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July 14, Fineko/abc.az. One of the governors of the US Federal Reserve System (FRS), Christopher Waller, during his speech on Thursday, said that he was not yet ready to declare victory over inflation

ABC.AZ reports that Waller considers it necessary to continue raising interest rates this year. The next rate hike, in his opinion, should occur at the July meeting of the Federal Reserve System.

Waller noted that the stability of the labor market and the good dynamics of the US economy provide additional space for tightening monetary policy.

He supported the Fed's decision not to change interest rates last month in order to be able to assess the economic impact of recent turmoil in the banking sector. According to Waller, these problems, apparently, have already been left behind.

"In the absence of further progress in slowing inflation and signs of a significant decline in economic activity, a second rate hike of 25 basis points should be implemented sooner rather than later, but this decision will be made in the future," Waller said.

He added that the Fed may decide to raise rates at the September meeting if the slowdown in inflation is not rapid enough.