Today’s Fed speak
Governor Waller, a current voter, has recently stressed the need to monitor inflation expectations closely as geopolitical tensions and higher energy prices risk keeping inflation elevated. While acknowledging some labor market softening, he has leaned toward keeping rates steady unless inflation improves further.
and Philadelphia Fed President Paulson, with both expected to reinforce the Fed’s cautious stance on inflation.
Paulson, a 2026 voter, has warned that commodity shocks tied to global conflicts could feed inflation more persistently. She has emphasized the importance of Fed credibility on inflation while remaining data dependent, and has also pointed to AI-driven productivity gains as a possible longer-term offset to price pressures.