Fed Chair Waller Downplays June CPI Data, Signals Preference for Tightening Policy on July 14

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At his July 14 hearing, Federal Reserve Chair Waller downplayed June CPI data despite it coming in below expectations, stating he does not believe the battle against inflation is won. He signaled a preference for tightening policy, noting he will push colleagues to debate when and how much to deploy the Fed's policy tools to achieve price stability. Following his comments, the 2-year Treasury yield fell nearly 7 basis points, while the S&P 500 rose 0.3% and the Bloomberg Dollar Spot Index declined 0.3%.
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