"Fed's mouthpiece": Waller did not explicitly mention the extent of the rate cut. Pay attention to the "if" in the speech

Odaily Planet Daily reported that "Federal Reserve mouthpiece" Nick Timiraos responded to Waller's speech, saying that Waller did not explicitly mention a "25" or "50" basis point rate cut in his speech, but tended to support starting with 25 basis points, and explicitly reserved the option of accelerating rate cuts "as appropriate" if "new data" showed further deterioration. Waller said: "Based on the evidence I have seen, I do not think the economy has fallen into recession, nor is it necessarily heading for a recession." We should pay attention to the "ifs" in his speech: "'If' the data indicates that a larger cut is needed, then I will support it. When inflation accelerates in 2022, I strongly advocate an early rate hike, and 'if' it is appropriate, I will support an early rate cut." "These decisions will be determined by new data." (May not include today's data) "While I expect that rate cuts will be made cautiously as the economy and employment continue to grow, I am ready to act quickly to support the economy when necessary against the backdrop of stable inflation." (Jin Shi)