Last week, Fed Governor Christopher Waller said recent economic numbers have made him push back his expectations for when rate cuts would be warranted.

“Adding this new data to what we saw earlier in the year reinforces my view that there is no rush to cut the policy rate,” he said in a speech at the Economic Club of New York. “Indeed, it tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2%.”

READ MORE: What Recent Fed Official Comments Tell Us About the Future of Interest Rates

Jeremy Siegel, professor of finance at the Wharton School of the University of Pennsylvania, spoke on Tuesday about the equity markets, treasury bonds, and artificial intelligence before the Economic Club of New York in a moderated discussion with President and CEO of the New York Fed John C. Williams.


READ MORE: Jeremy Siegel: Bonds are terrible hedges during inflation

During a significant discussion at the Economic Club of New York dinner in December, Bill Gates, the co-founder of Microsoft, offered an insightful analysis on the current state and future of education, emphasizing the dual themes of rapid advancement in the use of artificial intelligence (AI) tools like ChatGPT in education and the concerning gaps in math education.

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“I see economic output and the labor market showing continued strength, while progress in reducing inflation has slowed,” Fed Governor Christopher Waller told the Economic Club of New York on Wednesday. “Because of these signs, I see no rush in taking the step of beginning to ease monetary policy.”

READ MORE: ‘The last mile is harder’: Stubborn inflation stalls rate cuts

Recent data has shown that the U.S. Federal Reserve could hold off on cutting short-term interest rates in the face of rising productivity results, according to Chris Waller, a leading figure and Fed Reserve governor.

Waller would speak about the state of play of the U.S. financial market at the Economic Club of New York, titled “There’s still no rush.”

READ MORE: Fed’s Waller see’s no need to rush into interest rate cuts amid rising productivity

The latest U.S. inflation data points to the Federal Reserve needing to keep rates at their current levels, Fed Governor Christopher Waller said late Wednesday.

“There is no rush to cut the policy rate,” he said in a speech at the Economic Club of New York. Recent data “tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2%.”


READ MORE: There’s ‘no rush’ to cut rates yet, Fed governor says

Speaking at the Economic Club of New York, Fed Gov. Christopher Waller indicated that the recent spate of hotter inflation data raised the burden of proof needed to start implementing rate cuts. If stronger inflation persists, Waller said it could “reduce the overall number of rate cuts or push them further into the future.”

READ MORE: Interest Rates, Inflation, and What Else Could Come Up in Powell's Speech

“I see economic output and the labor market showing continued strength, while progress in reducing inflation has slowed,” Fed Governor Christopher Waller told the Economic Club of New York on Wednesday. “Because of these signs, I see no rush in taking the step of beginning to ease monetary policy.”

READ MORE: The Fed’s next test

Governor Christopher Waller echoed Powell’s view in a talk at the Economic Club of New York earlier this week:

"It is appropriate to point out that a month or two of data does not necessarily indicate a trend, and there are good reasons to think that progress on inflation will be uneven but likely to continue down toward 2 percent. At the same time, monetary policy is data driven, and I do want to take it into account when formulating my economic outlook. While I don’t want to over-react to two months of data, I do think it is appropriate to react to it."

READ MORE: Inflation Remained Elevated in February

Federal Reserve Chairman Jerome Powell speaks during a meeting of the Economic Club of New York in New York City, U.S., October 19, 2023.

READ MORE: Powell says the Federal Reserve wants to see ‘more good inflation readings’ before it can cut rates

“In my view, it is appropriate to reduce the overall number of rate cuts or push them further into the future in response to the recent data,” Waller said in prepared remarks Wednesday before the Economic Club of New York titled “There’s Still No Rush.”

READ MORE: Fed's Waller Says No Rush to Cut Interest Rates

Speaking at an Economic Club of New York gathering on Wednesday, Waller said “there is no rush to cut the policy rate” right now, and that “it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2%.”
 

Waller said at a Wednesday event organized by the Economic Club of New York that economic output and the labor market were showing strength, while progress in reducing inflation has slowed. He said he sees no rush to begin easing monetary policy.

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Federal Reserve Governor Christopher J. Waller starkly opposed the idea of cutting interest rates amidst current macroeconomic conditions characterized by the recent unexpectedly high inflation figures.

Speaking at the Economic Club of New York, Waller said, “There is no rush to cut the policy rate,” underscoring a cautious approach toward Fed interest rate policy.

READ MORE: Fed's Waller Sends Shiver Down Investors' Spines: 'There Is No Rush To Cut' Interest Rates

Swaps traders on Thursday slightly trimmed wagers that the Fed would cut rates as soon a June following Fed Governor Christopher Waller’s comments to the Economic Club of New York on Wednesday that there was no rush to lower interest rates.

READ MORE: Powell Juices Bond Market Bet on Inflation With Tilt to Jobs

"I see economic output and the labor market showing continued strength, while progress in reducing inflation has slowed," Waller said at a Wednesday evening event in New York organized by the Economic Club of New York. "Because of these signs, I see no rush in taking the step of beginning to ease monetary policy."

READ MORE: Why the Fed Is Delaying Interest-Rate Cuts: Waller

Speaking at an Economic Club of New York gathering, Waller cited recent inflation data, which “tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2 percent.”


READ MORE: Don’t sweat the prospect of no Fed rate cuts, economist says — markets will still march higher

The most recent economic data "tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2%," he said in speech at the Economic Club of New York on Wednesday night.


READ MORE: Fed's Waller says there's 'no rush' to cut U.S. interest rates

“I see economic output and the labor market showing continued strength, while progress in reducing inflation has slowed,” Waller said at a Wednesday evening event in New York organized by the Economic Club of New York. “Because of these signs, I see no rush in taking the step of beginning to ease monetary policy.”

READ MORE: Why the Fed Is Delaying Interest-Rate Cuts: Waller

"There is no rush to cut the policy rate" right now, Waller said in a speech at an Economic Club of New York gathering. Recent data "tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2%."

READ MORE: Fed's Waller still sees 'no rush' to cut rates amid sticky inflation data