U.S. Economy Steady but Federal Reserve Caution to Continue: Governor Waller

Federal Reserve Governor Christopher J. Waller has underscored the resilience of the U.S. economy while expressing caution regarding monetary policy adjustments. Speaking at the Economic Club of New York, Waller highlighted the need for further observation of economic indicators before considering any rate cuts, given the recent mixed data on inflation and growth.

Economic Outlook and Monetary Policy

Waller reiterated the Federal Open Market Committee's (FOMC) commitment to reducing inflation to a sustained level of 2 percent while ensuring a healthy labor market. Despite significant progress made in 2023, recent economic data has raised uncertainties about the pace of continued improvement, prompting Waller to emphasize a patient approach in normalizing monetary policy.

Performance of the U.S. Economy