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Fed's Waller: Further policy tightening will be needed
Federal Reserve (Fed) Governor Christopher Waller said during the European trading session on Tuesday. The support for more interest rate hikes from Fed’s Waller comes at a time when market experts doubt that the central bank will continue raising interest rates due to lower oil prices.
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ING’s Chris Turner expects the US Dollar (USD) to remain underpinned into early 2027 by strong US growth, inflation above 3% and a hawkish Federal Reserve. He notes that as headline inflation falls back towards the Fed’s 2% target, short-dated US rates should decline.
Gold (XAU/USD) falls more than 1% on Tuesday, giving back much of the previous day’s gains as traders lock in profits. Hawkish remarks from Federal Reserve (Fed) Governor Christopher Waller add to the pressure as markets wait for US consumer inflation data, due at 13:30 GMT.
Federal Reserve (Fed) Governor Christopher Waller adopts a hawkish tone on Tuesday, arguing that interest rates need to rise to put downward pressure on inflation, according to Reuters.