Wall Street Journal reporter Nick Timiraos said that Fed Governor Waller’s overall stance has not fundamentally changed since July, but his policy tilt has shifted: from concern and a preference for tightening monetary policy at the time, to cautious optimism and a preference for holding rates steady today. The final decision will depend on the August inflation data. His reaction path for the September 15–16 policy meeting is already clear: if inflation continues to move toward the 2% target, rates will be held steady; if August inflation data comes in higher than expected, an interest rate hike will be considered. (Jin10)
Fed's Waller Shifts to a Cautious Stance; September Rate Hike Depends on August Inflation
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Summary
Risk-on assets gained momentum as Fed Governor Christopher Waller signaled a shift toward cautious optimism, with September rate decisions contingent on August inflation data. Waller’s position has evolved from advocating tighter policy to supporting rate stability if inflation trends toward 2%. BTC as a hedge against inflation remains under scrutiny amid central bank uncertainty. A rate hike remains possible if August data comes in higher than expected.
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