Wall Street gains amid Fed's Waller remarks 📈

Fed's Waller commented the US monetary policy and economy signalling that Fed will be able to cut rates as early as in July. Here is the breakdown of Waller's comments.

• Workers are not in a position to demand higher wages in response to tariffs, a reason not to worry about second-round effects.

• The Fed has a mandate to worry about unemployment and inflation, not to provide cheap financing for the federal government.

• Tariffs will not be completely passed through; a 10% tariff on all imports would not have much impact on overall inflation.

• I don't want to wait for the job market to tank before cutting rates.

• Seeing job creation coming down and other signs suggesting the labour market is getting weaker.

• The labour market is okay, but not as strong as in 2022.

• The job market is solid, but we are starting to see things like high unemployment among recent graduates.

• Inflation persistence from tariffs is a valid concern.

• The tariffs should pose a one-off level effect on prices and not be a persistent boost to inflation.

• The process should start slow to be sure there are no surprises; if there is a shock, the Fed could pause.

• The Fed is in a position as early as July for cuts.

• The Fed has room to bring rates down and then observe what happens with inflation.

• I am not sure if the committee would go along, but the data is good: unemployment is low, inflation is close to target.

• Central banks should look through tariff effects on inflation.

• I do not think the inflation impact from tariffs will be significant; the trend is looking good.

Indices on Wall Street gained after Fed's Waller remarks signalling a dovish stance from the Fed.