Waller's Speech Becomes a Window for Fed Policy Observation as Inflation Unexpectedly Heats Up, Breaking Wait-and-See Expectations

On October 15, the September inflation data shattered market expectations for the Federal Reserve to continue waiting. Several policymakers had suggested that the Fed need not rush to raise interest rates, but the latest data has made the October meeting a critical juncture for potential action. Fed Chair Kevin Waller has pledged not to guide the market through short-term monetary policy outlooks, but following the unexpected rise in inflation, the market is particularly focused on his speech in Bangkok on Thursday evening New York time (11:30 AM Beijing time on the 16th). Waller will engage in a fireside chat with International Monetary Fund President Kristalina Georgieva. The Fed will enter a media blackout period on Saturday in preparation for the policy meeting on October 27-28, making Waller's speech an important window for conveying interest rate decision signals.

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