Waller, which is a permanent voting member in the FOMC, has an important voice when it comes to potential changes in monetary policy. He’s today's comments are very similar to Williams from yesterday. We could hear similar statements from Evans and Bostic.
- improvement in the labor market, high inflation indicate the need for faster tapering and more rapid interest rate increases
- inflationary pressure is broad-based, and will remain high in 2022, longer than expected
- the labor market will quickly reach full employment
- balance sheet reduction will allow markets to function smoothly
- Waller wants a similar process in reducing the balance sheet as before
Despite further hawkish comments, there is little reaction in the market. The dollar is a bit weaker and gold is left with no direction today, although comments on an interest rate hike should rather lead to a pullback from the current supply level. Source: xStation5
BREAKING: Massive increase in US oil reserves!
Market wrap: Oil gains amid US - Iran tensions 📈 European indices muted before US NFP report
📈 Gold jumps 1.5% ahead of NFP, hitting its highest level since Jan. 30
Silver rallies 3% 📈 A return of bullish momentum in precious metals?