Waller says further Fed hikes need not come at consecutive meetings, which tilts the odds toward December. Initial jobless claims fell to 197,000 and core personal consumption expenditures inflation held at 3.0%.
Fed Governor Christopher Waller sees more rate hikes coming if the data arrive as forecast, just not necessarily in a row. He told an Istanbul audience on Thursday that there is "some flexibility about when those hikes will occur" and that they "do not need to come at consecutive meetings." The debate is no longer whether the Fed hikes again but which meeting it picks. His speech effectively tells markets that October 27-28 does not have to be the next move.
