Federal Reserve Governor Christopher Waller argued on Thursday that markets may have gotten ahead of themselves by pricing a 100 basis points rate hike in July, as reported by Reuters.
Additional takeaways
"It is a very hard game to predict a recession."
"The labor market would have to deteriorate incredibly fast to throw us into recession."
"Yesterday's inflation number was not a big surprise."
"To go above 75 bps at next meeting, I need to assess data over next couple of weeks."
"We don't want to take a knee-jerk reaction to yesterday's inflation data."
Market reaction
The US Dollar Index continued to retrace its daily rally on these comments and was last seen rising 0.45% on the day at 108.48.
