/Fed Governor Signals Towards Raising Interest Rates This Fall

Fed Governor Signals Towards Raising Interest Rates This Fall

Federal Reserve Board of Governors member Christopher Waller hinted that the central bank may begin tapering its aggressive quantitative easing.

As The Daily Wire reported, the Federal Reserve has repeatedly decided that it would not amend its near-zero interest rate target and $120 billion monthly bond purchases — both of which are meant to increase the money supply in order to encourage economic activity — despite an inflation rate that has risen throughout much of 2021.

In an interview with CNBC’s “Squawk Box,” however, Waller — one of the seven economists in charge of managing American monetary policy — implied that the stimulus has attained its objective of promoting recovery after COVID-19 and the lockdown-induced recession.

“In my opinion, that’s substantial progress and I think you could be ready to do an announcement in September,” he explained, adding that if the next two jobs reports “come in as strong as the last one, then I think you’ve made the progress you need.” If they do not, “then you’re probably going to have to push things back a couple months.”

Keep reading at The Daily Wire for more.