{"id":1746455,"date":"2022-11-21T06:05:04","date_gmt":"2022-11-21T11:05:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1746455"},"modified":"2022-11-21T08:33:49","modified_gmt":"2022-11-21T13:33:49","slug":"feds-waller-says-hes-open-to-0-5-rate-hike-at-december-meeting","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-waller-says-hes-open-to-0-5-rate-hike-at-december-meeting\/","title":{"rendered":"Fed\u2019s Waller Says He\u2019s Open to 0.5% Rate Hike at December Meeting"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffeds-waller-says-hes-open-to-0-5-rate-hike-at-december-meeting%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1746455&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Federal Reserve Governor Christopher Waller said Wednesday he&#8217;s open to reducing the level of interest rate increases to half a percentage point in December.<\/li>\n<li>&#8220;But I won&#8217;t be making a judgment about that until I see more data,&#8221; he said at a speech in Phoenix, where he also vowed not to be &#8220;head-faked&#8221; by an encouraging inflation report last week.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107152917\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000273422\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107152918-16686275801668627577-26620436031-1080pnbcnews.jpg?v=1668629140&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"Fed Governor Waller expects a 50 bps hike in December\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Federal Reserve Governor Christopher Waller said Wednesday he&#8217;s open to reducing the level of interest rate increases soon, so long as the economic data cooperates.<\/p>\n<p>The rate-setting Federal Open Market Committee is set to meet Dec. 13-14. Market expectations are running high that policymakers will approve another rate hike, but this time opting for a 0.5 percentage point, or 50 basis point, move. That would come after approving four consecutive 0.75 percentage point increases.<\/p>\n<p>&#8220;Looking toward the FOMC&#8217;s December meeting, the data of the past few weeks have made me more comfortable considering stepping down to a 50-basis-point hike,&#8221; Waller said in prepared remarks for an event in Phoenix. &#8220;But I won&#8217;t be making a judgment about that until I see more data, including the next PCE inflation report and the next jobs report.&#8221; A basis point equals 0.01 percentage point.<\/p>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-106869551\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Christopher Waller testifies before the Senate Banking, Housing and Urban Affairs Committee during a hearing on their nomination to be member-designate on the Federal Reserve Board of Governors on February 13, 2020 in Washington, DC.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Sarah Silbiger | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The next PCE inflation report is due on Dec. 1.<\/p>\n<p>Investors have grown optimistic that a lower-than-expected increase in <a href=\"https:\/\/www.cnbc.com\/2022\/11\/10\/consumer-prices-rose-0point4percent-in-october-less-than-expected-as-inflation-eases.html\">October&#8217;s consumer price index reading<\/a> is indicative that inflation is cooling. Headline CPI increased 0.4% for the month and 7.7% from a year ago, while the core reading excluding food and energy rose 0.3% and 6.3%, respectively. All the readings were lower than market estimates.<\/p>\n<p>The Fed favors the core personal consumption expenditures prices measurement, which <a href=\"https:\/\/www.cnbc.com\/2022\/10\/28\/pce-inflation-september-2022-.html\">rose 0.5% in September<\/a> and 5.1% from a year ago, as a gauge of rising prices.<\/p>\n<\/div>\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107152696\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000273365\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107152697-16686116241668611620-26616853886-1080pnbcnews.jpg?v=1668611899&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"A pause is off the table, says San Francisco Fed President Mary Daly\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Waller said he&#8217;ll be watching the data closely as he remains suspect that the October CPI readings confirmed a new trend. As a governor, he is an automatic voter on the FOMC.<\/p>\n<p>&#8220;Though welcome news, we must be cautious about reading too much into one inflation report. I don&#8217;t know how sustained this deceleration in consumer prices will be,&#8221; he said. &#8220;I cannot emphasize enough that one report does not make a trend. It is way too early to conclude that inflation is headed sustainably down.&#8221;<\/p>\n<p>In making his assessment, Waller said he will be looking at three principal data points apart from the broad inflation readings: core goods prices, housing and non-housing services. He said he&#8217;s seeing encouraging signs on all three fronts but will need to see more and vowed not to be &#8220;head-faked by one report.&#8221;<\/p>\n<p>&#8220;Like many others, I hope this [CPI] report is the beginning of a meaningful and persistent decline in inflation. But policymakers cannot act based on hope,&#8221; he said.<\/p>\n<p>Earlier in the day, San Francisco Fed President Mary Daly told CNBC that she expects <a href=\"https:\/\/www.cnbc.com\/2022\/11\/16\/feds-daly-sees-rates-rising-at-least-another-percentage-point-as-pausing-is-off-the-table.html\">at least another percentage point of rate increases<\/a> ahead. The Fed&#8217;s benchmark rate currently sits in a targeted range between 3.75% and 4%.<\/p>\n<\/div>\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107057877\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000245496\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107057878-GettyImages-1322333140.jpg?v=1652083655&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"Interest rates are surging \u2014 here&#039;s how to protect your money\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/4db8932b7ac3e84e3f64.svg\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Governor Christopher Waller said Wednesday he&#8217;s open to reducing the level of interest rate increases to half a<\/p>\n","protected":false},"author":1,"featured_media":1746458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1746455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1746455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1746455"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1746455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1746458"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1746455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1746455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1746455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}