Fed's Waller: Everything seems to be calm in US banking system


Federal Reserve Governor Christopher Waller said on Friday that the US economy is still "ripping along" and noted that everything seems to be calm in the US banking system, as reported by Reuters.

Additional takeaways

"Global spillovers expected from coordinated central bank tightening have not really materialized."

"Could be short run price impacts of things like re-shoring production, but should not imply ongoing inflationary price increases."

"Banks deal with interest rate risk all the time and most have done fine with it."

"Reliance on forward guidance means policy lag is not the same as it used to be, makes conditions tighten faster."

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen moving sideways slightly above 102.00.

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