Fed's Christopher Waller backs 50 bps rate hikes at 'several' meetings

US central bankers raised rates by a half point this month to cool the hottest inflation in 40 years and have signaled they'll hike by the same amount again at their meetings in June and July

Federal Reserve Governor Christopher Waller said he wants to keep raising interest rates in half-percentage point steps until inflation is easing back toward the US central bank’s goal.

“I support tightening policy by another 50 basis points for several meetings,” he said on Monday in Frankfurt. “In particular, I am not taking 50 basis-point hikes off the table until I see inflation coming down closer to our 2% target,” he told an event hosted by the Institute for Monetary and Financial Stability.

US central bankers raised rates by a half point this month to cool the hottest inflation in 40 years and