On August 28, Fed Chair Waller stated that the role of forward guidance should be limited. Market participants should focus on real information in the economy. Forward-looking policies should not be based on outdated or inaccurate data. The labor market is quite stable.
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Fed Chair Waller: The Role of Forward Guidance Should Be Limited
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Analyst Andrew Sacher: Waller's Remarks Undermine Market Dovish Expectations
On August 28, analyst Andrew Sacher stated: "Previously, some believed that Federal Reserve Chairman Waller advocated for using alternative inflation measures to select the one most favorable to him. However, in this speech, his approach was quite the opposite. He dissected PCE inflation and found that 49% of its components had an annualized price increase exceeding 3%, categorizing this level as 'quite high.' His discussion on the labor market was also hawkish, focusing on low unemployment rates and initial jobless claims. The usually closely watched non-farm payroll numbers were only briefly mentioned." (Jinshi) -
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