Fed’s Waller Sees Tapering Sooner than Expected

U.S. Federal Reserve Governor Christopher Waller said on Thursday that economic recovery is progressing with the labor market showing improvement signs, which could lead to scaling back the accommodative monetary policy soon.

Speaking to the American Enterprise Institute, Weller said that he is sure the U.S. economy will recover.

“We will be able to pull back on accommodative monetary policy potentially sooner than others think.”

“My base case is that the inflation we’re seeing is somewhat transitory, that there will be some relief in the fourth quarter of this year on price pressures.”

In a recent interview with CNBC, Waller expected the Fed will begin cutting back the massive asset purchases as early as October.