Fed officials signal a willingness to wait patiently; confidence is needed to slow inflation | Reuters

[１７日 ロイター] – Officials at the US Federal Reserve Board (Fed) signaled their stance of waiting patiently, with less than a month left until the next Federal Open Market Committee (FOMC) meeting in December. They appear to be converging on keeping interest rates unchanged until there is more evidence that inflation is cooling.

San Francisco Federal Reserve President Daley said on the 17th that given the uncertainty surrounding the economy and outlook, the Fed needs “the audacity to wait” and that monetary policy should be adjusted only gradually. .See more

“The risks are high and the situation appears to be in a period of uncertainty,” he said in a speech in Frankfurt, Germany. “We should embrace gradualism in situations of high uncertainty and where the risks to our goals are more balanced,” and “we must hold fast to the idea that patience, careful adjustment, and continuous reassessment will yield better outcomes.” “There is,” he said.

Boston Federal Reserve President Collins also said in an interview on CNBC on the 17th, “We must be patient and decisive in order to get inflation back to 2% within a reasonable time.” “No,” he pointed out. “We are in a position to be patient,” he added, adding, “The important question is whether we need to persist on our current trajectory. “There is,” he said.See more

Next week, on the 21st, the minutes of the Federal Open Market Committee (FOMC) meeting held from October 31st to November 1st will be announced. It is expected to become clear to what extent the rise in U.S. bond yields influenced the Federal Reserve’s decision to keep interest rates unchanged.

Collins did not directly address the recent decline in bond yields, but said that “we are seeing evidence of certain restrictions that are consistent with the orderly deceleration” the Fed is seeking.

Chicago Fed President Goolsby said on Wednesday that the Fed will take all necessary steps to return inflation to its 2% target, but if upward pressure on home prices eases as expected, it will be on track to achieve that goal. He expressed the idea that Japan is already on the right track.See more

Cleveland Fed President Mester also said on Monday that the central bank needs to see more evidence that inflation is returning to its 2% target. He also said policy is in an “optimal” position to see how inflation develops.See more

The FOMC is scheduled to announce new economic and interest rate outlooks at its next meeting on December 12-13.

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