In an effort to control inflation, Federal Reserve member Christopher Waller urged support for more aggressive rate rises by the country’s central bank.
In a Monday lecture at the Institute for Monetary and Financial Stability in Frankfurt, Germany, Waller also stated that he expects subsequent rate rises would not result in a rise in the US unemployment rate.
Waller, a Fed governor, said he supports “many” more half-percentage-point — or 50 basis-point — rises in the Federal Reserve’s policy rate until “inflation comes down closer to our 2% objective.”
The Bureau of Labor Statistics consumer price index showed broad-based inflation at 8.3 percent in April, a level last seen in the early 1980s but a decrease from March. The