Federal Reserve Gov. Christopher Waller said Saturday that he would like to see another 75 basis point interest rate hike at the next policy meeting in late July.
Waller supported the Fed’s decision to raise its benchmark rate by 75bp last week to a range of 1.5-1.75%. That was the largest rate hike since 1994.
“In my view, and I speak only for myself, if the data comes in as I expect, I will support a similar sized move at our July meeting,” Waller said, during a panel discussion hosted by the Dallas Society for Computational Economics.
If the Fed moved again by 75 basis points in July, that will mean it had moved its benchmark rate up by almost 225 basis points since March. The last time the central bank hiked its benchmark rate by that much, it took three years from 2016-2018.