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    Fed's Waller: No rush to cut rates amid sticky inflation data

    FXStreet
    Updated Mar 28, 2024 24:19
    Mitrade

    Federal Reserve Governor Christopher Waller said on Wednesday that recent weak inflation data supports the case for Fed holding off on cutting its short-term interest rate target, per Reuters.


    Key quotes


    "There is no rush to cut the policy rate.” 


    “Fed may need to maintain current rate target for longer than expected.”


    “Needs to see more inflation progress before supporting rate cut.”“Needs at least a couple of months of data to be sure inflation heading to 2%.”


    “Still expects Fed to cut rates later this year.”


    “Economy’s strength gives Fed space to take stock of data.”



    “Data suggests fewer rate cuts possible this year.”

    “Economy is growing at a healthy pace.”

    “Despite progress on inflation, recent data has been disappointing.”

    “Data has showed mixed messages on jobs front.”

    “Fed has made a lot of progress lowering inflation.”

    “Wage pressures have been easing.”

    “Unsure productivity will keep at current strong pace.”


    Market reaction 


    The US Dollar Index attracts some buyers following the above hawkish comments. The DXY is trading 0.11% higher on the day at 104.40, as of writing.

    * The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

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