Waller: Don't Expect Hints from the Federal Reserve on Future Rate Directions

Golden Finance reports, July 1st — Federal Reserve Chairman Waller stated that investors should focus more on economic data to determine whether the central bank will raise interest rates. Waller did not provide any hints on whether the Federal Reserve would raise rates in July and reiterated his dissatisfaction with "forward guidance." Waller, who was nominated by Trump earlier this year, assumed the role of Federal Reserve Chairman in May. He previously served at the Federal Reserve during the 2008-2009 global financial crisis. When making public statements on economic issues, Waller is unlikely to be as outspoken as Powell. He has expressed that he believes excessive commentary from Federal Reserve officials can confuse investors. (Jin10)