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Open original source ↗Fed Gov Chris Waller voted to hold rates steady.
Waller said this on July 13:
"Sternly staring at inflation until it melts before our withering gaze is not an option."
I agree, as does the bond market.
So why did Waller vote to hold rates steady? Had he voted to hike, would the bond market's reaction today have been "calmer"
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These are the quoted author’s words.
The 30-year is up 12 basis points to 5.21%, a new 19-year high. The market is worried about inflation and wants the Fed to act. If it does not, the market will. Bond traders will stop panicking (chart below) when the Fed starts panicking. The Fed/Warsh did not panic today. https://t.co/B29eeZzJ5B
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