Christopher Waller: "My Job is to Bring the Inflation Down"

US Federal Reserve (FED) Member Christopher Waller noted that he did not take into account the cause of inflation and stated that his duty was to bring the inflation down.

The Fed recently announced that they had increased interest rates by 75 basis points. Fed Chairman Jerome Powell expressed that he did not expect interest rate steps of this magnitude to become widespread, while Fed member Christopher Waller expressed his support for the decision to increase interest rates to reduce inflation. Waller added that the US Federal Reserve has mobilized all its efforts to reduce inflation with its decisions, adding that the concern about recession is an exaggeration. Waller said, "I don't care what causes the inflation. Inflation is too high, and it's my job to bring it down." With the decision of the US Federal Reserve to raise interest rates by 75 basis points, it was the largest rate hike since 1994. With the decision, the Fed's interest rate range increased to 1.5%-1.75%.