Nomination Hearing of Judy Shelton and Dr. Christopher Waller
WASHINGTON (AP) — Christopher Waller, a member of the Federal Reserve’s Board of Governors, said Thursday that he would be open to supporting a huge 1 percentage point increase in the Fed’s key short-term interest rate later this month if upcoming economic data points to robust consumer spending.
Such an increase would mark a further ramping up of the Fed’s rate hikes as it intensifies its fight against accelerating inflation.
Faster rate increases would heighten the risk that the central bank’s anti-inflationary policies would cause a recession.
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