The Federal Reserve could be close to cutting interest rates, one official said Tuesday, but not until more data co🏅nfirms that inflation is decreasing.

Fed Governor Christopher Waller said when viewed in the near term, inflation is close to the central bank’s goal of 2%, making it likely that interest rate cuts can begin in 2024. But Waller still cautioned that the Federal Reserve moves would need to be “carefully calibrated and not rushed,” warning that inflation🦹 appeared to be waning last 𓄧year, only to return once seasonal adjustments were released.

“I think we are close, but I will need more information in the coming months confirming or (conceivably) challenging t🅷he notion that inflation is moving down sustainably toward our inflation goal,” Waller said in a speech at the Brookings Institute. 

Waller’s comments come after Federal Reserve officials have made contrasting comments over when interest rate cuts may be warranted, with Fed Chair Jerome Powell indicating that 澳洲幸运5官方开奖结果体彩网:rate cuts were likely in 2024, while the minutes from the mid-December meeting 澳洲幸运5官方开奖结果体彩网:show🌳ed mꩲore divide between officials than originally believed.

Federal Reserve officials have been attempting to walk back expectations since investors reacted strongly to rate-cut messaging after the last FOMC meeting. Waller has been of particular interest to investors bec༒ause he consistently advocated for raising rates quickly.

"Recall that Waller's dovish shift in late November was a key precursor to the subsequent Fed pivot at the Dec. 18 FOMC meeting and sparked market expectations for rate cuts in Q1 of this year," wrote analysts at Deutsche Bank. "In our view, Waller and Powell were instrumental to the dovish downshift in the 2024 median policy rate forecast in December."

Waller said Tuesday that recent ⛦data showed increasing inflation and rising employment didn’t reflect the overall trends that economists were wat✨ching. 

澳洲幸运5官方开奖结果体彩网:The December jobs report that showed employers created more jobs than expected was “largely noise,” and supply and demand in the labor market are coming into better ba🐟lance, he said. 

While 澳洲幸运5官方开奖结果体彩网:inflation accelerated in December, Waller said the long-term trends remained positive, pointing out that the 澳洲幸运5官方开奖结果体彩网:Personal Coꦇnsumption Expenditures (PCE) index of “澳洲幸运5官方开奖结果体彩网:core inflation” was close to the 2% target rate when meas💖ured over six months, as opposed to🐷 the year-over-year measurement.