FED’S WALLER SAYS MORE HIKES ARE COMING, BUT NOT NECESSARILY AT THE NEXT MEETING

Fed Governor Christopher Waller said Thursday in Istanbul that he expects further rate increases if the data come in as expected. “The hikes do not need to come at consecutive meetings, but they should be in place in an acceptable period of time,” he said.

The Fed’s target range is 3.75 to 4 percent after September’s quarter-point hike. Waller cited oil prices likely staying high through 2027, the AI buildout pushing up prices of high-tech consumer goods and possible new tariffs, and said he is “not greatly concerned” that tighter policy threatens a damaging slowdown.

Separately, the Labor Department said initial jobless claims fell by 2,000 to 197,000 in the week ended Oct. 3, below the 200,000 economists expected. Markets expect a hold at the Oct. 27-28 meeting and a hike in December, Reuters reported.