Fed’s Waller favours multiple big interest rate hikes

FRANKFURT, May 30 — The US central bank needs to keep raising interest rates in big steps until inflation starts to come down, Federal Reserve Governor Christopher Waller said today.

Waller said he supports more half-point rate hikes “for several meetings.” “I am not taking 50 basis-point hikes off the table until I see inflation coming down closer to our two per cent target,” he said in a speech prepared for delivery to a monetary policy conference at Goethe University.

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