Christopher Waller, Speech/Q&A: Hike, Skip or Pause?

“I do not expect the data coming in over the next couple of months will make it clear that we have reached the terminal rate. And I do not support stopping rate hikes unless we get clear evidence that inflation is moving down towards our 2 percent objective. But whether we should hike or skip at the June meeting will depend on how the data come in over the next three weeks. We will get additional labor market data, with some information about wages, and additional inflation numbers in the next few weeks that will continue to shape my view on where we stand relative to the FOMC’s dual mandate. During this time, I’ll also be reviewing data on credit conditions to evaluate how much potential tightening is coming from the banking sector.”