Waller Responds to External Concerns, Emphasizing "Primary Focus on Prices"

According to a report by Golden Finance, on August 28, Federal Reserve Chairman Waller stated: "Although the PCE and CPI data released this summer were better than expected, they have not convinced me that there has been meaningful improvement in the underlying inflation trend. Market prices reflect the belief that we will achieve price stability. I can assure you that the market's judgment is correct." Waller then emphasized that with inflation above 2%, the Federal Reserve's "current primary focus should be on prices." Waller's highly anticipated speech comes amid criticism of his streamlined communication strategy. Economists and market participants argue that this strategy lacks clear articulation regarding the outlook for the economy and monetary policy. Waller's remarks appear to address these concerns, as he delved deeper than usual into his views on the economic situation and the Federal Reserve's policy priorities under his leadership. He stated: "Let us also be clear about another aspect of our goal: price stability will not happen automatically, nor will inflation necessarily return on its own. Achieving price stability is the responsibility of the Federal Reserve." It is expected that Waller will not answer questions posed by central bank officials and economists present at the event. (Jin10)