Speaking at the Istanbul Economic Forum today, Fed Board member Waller stated that inflation remains high and that additional interest rate hikes are anticipated if data comes in line with expectations. Waller said, “However, there is flexibility in the timing of these increases. They do not need to occur at consecutive meetings, but they should be implemented within a reasonable timeframe.” Meanwhile, according to CME FedWatch data, the probability of a 25-basis-point rate hike at the Fed’s October 27–28 meeting is 19.4%, while the probability of holding rates steady is 80.6%.
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