{"id":1818344,"date":"2023-01-21T09:05:07","date_gmt":"2023-01-21T14:05:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1818344"},"modified":"2023-01-21T09:06:42","modified_gmt":"2023-01-21T14:06:42","slug":"fed-governor-backs-0-25-hike-at-next-meeting","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-governor-backs-0-25-hike-at-next-meeting\/","title":{"rendered":"Fed Governor Backs 0.25% Hike at Next Meeting"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/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%2Ffed-governor-backs-0-25-hike-at-next-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=1818344&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-->\n<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 stated Friday that he supports a quarter-percentage point interest rate rise at the next meeting. This confirms market expectations.<\/li>\n<li>&#8220;Beyond that, we still have a considerable way to go toward our 2 percent inflation goal, and I expect to support continued tightening of monetary policy,&#8221; He concluded.<\/li>\n<li>Others have suggested a 0.25 percentage-point increase at the Jan. 31 &#8211; February 1 FOMC meeting. Waller, however, is the highest ranking member to make that explicit.<\/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=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107181920\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107181920\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000282337\" 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\/107181921-16742379111674237909-27817396022-1080pnbcnews.jpg?v=1674238359&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"Fed Gov. Chris Waller say he favors 25 basis point interest rate hike at next FOMC meeting\"   style=\"display:none\"><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Federal Reserve Governor Christopher Waller stated Friday that he supports a quarter-percentage point interest rate rise at the next meeting. He waits for further evidence to support the claim that inflation is moving in the right direction.<\/p>\n<p>Confirm <a href=\"https:\/\/www.cnbc.com\/2023\/01\/18\/markets-fully-price-in-quarter-point-interest-rate-hike-in-february-as-inflation-slows.html\">market expectations<\/a>The official from the central bank stated during a Council on Foreign Relations event held in New York, that the Fed can reduce the size of its rate increases.<\/p>\n<div class=\"ExclusiveContentBucket-exclusiveContentBucket\">\n<h2 class=\"ExclusiveContentBucket-exclusiveContentHeading\">Related investing news<\/h2>\n<div class=\"ExclusiveContentBucket-contentContainer\">\n<div class=\"BucketItem-bucketItem\">\n<div class=\"BucketItem-bucketImageContainer\"><img decoding=\"async\" class=\"BucketItem-bucketImage BucketItem-proItem\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/103646897-20160513_NYSE_Promos_SOTS_SA__0078-2.jpg\" alt=\"These are the key levels UBS&#039;s Art Cashin will be watching as the January rally unravels\" \/><\/p>\n<div class=\"BucketItem-proPillContainer\"><a href=\"https:\/\/www.cnbc.com\/pro\/\" class=\"ProPill-proPillLink\" data-type=\"pro-button\"><img decoding=\"async\" class=\"BucketItem-proPill ProPill-proPill\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/f7f282b4f7f47fceda1e.svg\" alt=\"CNBC Pro\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>He also stated that it was not the right time to declare victory over inflation. He compared monetary policy with an airplane that flew higher and is now ready to descend.<\/p>\n<p>&#8220;And in keeping with this logic and based on the data in hand at this moment, there appears to be little turbulence ahead, so I currently favor a 25-basis point increase at the FOMC&#8217;s next meeting at the end of this month,&#8221; Waller spoke in prepared remarks. &#8220;Beyond that, we still have a considerable way to go toward our 2 percent inflation goal, and I expect to support continued tightening of monetary policy.&#8221;<\/p>\n<p>Although he did not give any details about the rates he expects, he was scheduled to take part in a question and answer session that followed the 1 p.m. speech. ET speech.<\/p>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-106389560\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Christopher Waller, the U.S. President&#8217;s nominee to be Governor of the Federal Reserve, listens in during a Senate Banking Committee confirmation hearing. This was held in Washington, D.C. (February 13, 2020).<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Andrew Harrer | Bloomberg | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Others, including Patrick Harker, President of Philadelphia Fed, have suggested a 0.25 percentage-point increase at the Jan. 31 &#8211; Feb. 1 FOMC meeting. Waller, however, is the highest ranking member to make that clear.<\/p>\n<p>Although the Fed and the market appear to be on the exact same page regarding where rates will go in the near term, there is still divergence.<\/p>\n<p>The majority of central bankers believe rates will remain at an elevated level until the end, with markets seeing a spike in the summer and a subsequent drop.<\/p>\n<p>Waller explained that the divergence lies mainly in perception of inflation&#8217;s future direction.<\/p>\n<p>&#8220;The market has a a very optimistic view that inflation is just going to melt away. The immaculate disinflation is going to occur,&#8221; He spoke to Steve Liesman, CNBC&#8217;s executive producer, during a Q&#038;A session following the speech. &#8220;We have a different view. Inflation&#8217;s not just going to miraculously melt away. It&#8217;s going to be a slower, harder slog to get inflation down and therefore we have to keep rates higher for longer and not start cutting rates by the end of the year.&#8221;<\/p>\n<p>Waller was positive on the economy overall, noting that activity has slowed down in certain key areas, such as manufacturing and wage growth. Waller stressed that the Fed&#8217;s goal was not to &#8220;halt economic activity,&#8221; instead of bringing it back in balance so that inflation can fall.<\/p>\n<p>Inflation gauges such as consumer price index and Fed&#8217;s preferred core individual consumption expenditures price indicator have fallen from the peak they reached last summer. He noted that although headline CPI fell 0.1%, the index excluding energy and food rose 0.3%. &#8220;is still too close to where it was a year ago.&#8221;<\/p>\n<p>&#8220;So, while it is possible to take a month or three months of data and paint a rosy picture, I caution against doing so,&#8221; He said. &#8220;The shorter the trend, the larger the grain of salt when swallowing a story about the future.&#8221;<\/p>\n<p>Waller stated that he still believes in a &#8220;soft landing&#8221; As possible for the economy, scenario would see &#8220;progress on inflation without seriously damaging the labor market.&#8221;<\/p>\n<p>&#8220;So far, we have managed to do so, and I remain optimistic that this progress can continue,&#8221; He said.<\/p>\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 stated Friday that he supports a quarter-percentage point interest rate rise at the next meeting. This confirms market expectations. &#8220;Beyond that, we still have a considerable way to go toward our 2 percent inflation goal, and I expect to support continued tightening of monetary policy,&#8221; He concluded. Others have suggested &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1818347,"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":[15895,5458,7498,4173,5861,4470,3819],"class_list":["post-1818344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-0-25","tag-bongino","tag-fed","tag-governor","tag-hike","tag-meeting","tag-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\/1818344","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=1818344"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1818344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1818347"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1818344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1818344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1818344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}