EUR/USD
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Gold
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2.082%
Oil
89.809
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USD/JPY
155.619
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GBP/USD
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Real-time News
On September 3rd, Federal Reserve Governor Waller stated that the Fed must establish clear and consistent rules for policy responses, otherwise the market will be unable to predict them. He noted that while the specific quantification of the response function may have flaws, it is crucial from a qualitative perspective; his views on the perfection of the response function differ significantly from those of Fed Chairman Warsh. Regarding Fed transparency, Waller stated that surprising the market is of no benefit, criticizing the "never explain" approach as an old and undesirable model, suggesting that some disclosure of future policy directions would be better. Waller also stated that there are very strong differences of opinion within the Fed regarding communication issues, with strong opposition to scenario analysis last year, and it remains uncertain what the communication working group will achieve. Regarding the balance sheet working groups discussions, he will oppose any suggestions that would lead to a return to a scarce reserve situation; regarding the data working group, he emphasized the need to be wary of trust issues, advocating for the use of verifiable data, and stated that the inflation working group may be most helpful to the Federal Open Market Committee (FOMC).On September 3rd, Federal Reserve Governor Waller stated that mortgage and auto loan rates are not low, and he expects CPI and PPI to be "at reasonable levels" next month. He believes that the "loose financial environment" actually reflects stock prices. He argues that interest rates affecting ordinary Americans are not loose. He points out that the US cannot maintain a 3% structural fiscal deficit indefinitely, which doesnt necessarily mean the US will "fall off a cliff," but could lead to further increases in yields. Fiscal factors and competition for capital from artificial intelligence are both pushing up yields, and some studies also show that the premium on US Treasury bonds has disappeared, which also contributes to rising yields.Note: Federal Reserve Governor Waller has finished speaking.Federal Reserve Governor Waller: The inflation task force is probably the most helpful to the Federal Open Market Committee.Federal Reserve Governor Waller: The inflation task force is probably the most interesting.
