Federal Reserve Governor Christopher Waller argued on Thursday that markets may have gotten ahead of themselves by pricing a 100 foundation factors fee hike in July, as reported by Reuters.

Additional takeaways

“It is a very hard game to predict a recession.”

“The labor market would have to deteriorate incredibly fast to throw us into recession.”

“Yesterday’s inflation number was not a big surprise.”

“To go above 75 bps at next meeting, I need to assess data over next couple of weeks.”

“We don’t want to take a knee-jerk reaction to yesterday’s inflation data.”

Market response

The US Dollar Index continued to retrace its day by day rally on these feedback and was final seen rising 0.45% on the day at 108.48.

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