حفلة 2024

URGENT: No rush to cut policy rate – Fed board member

According to an official statement on the Fed’s website, Christopher J. Waller, a member of the Federal Reserve Board of Governors, stated on Wednesday (ET) that economic data from the last month underscores his opinion that there is no urgency to decrease the policy rate.

“Over the past month, additional economic data has reinforced this view. February job gains moved back up to 275,000, making the three-month average a strong 265,000, and various inflation measures have continued to come in hot. Core personal consumption expenditures (PCE) inflation jumped to 0.4 percent on a monthly basis in January, after averaging around 0.1 percent in October through December last year,” he said.
He added that with February consumer price index (CPI) and producer price index inflation data in hand, some forecasts are predicting core PCE inflation may be revised up for January and is expected to come in at 0.3 per cent for February, which we will learn about on Friday.

He noted that with February consumer price index (CPI) and producer price index inflation data in hand, some projections suggest core PCE inflation will be revised up for January and will come in at 0.3% in February, which scheduled for Friday.

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