The Latest Breaking News from Christopher Waller

What to know about Fed candidates Kevin Hassett, Kevin Warsh, Chris Waller and Rick Rieder.

Fed Officials Signal Rate Cut, Gold Rises, Dollar Falls

December S&P 500 E-Mini futures (ESZ25) are trending down -0.12% this morning as investors brace for a flood of U.S. economic data, with particular attention on the retail sales report and producer inflation figures, to assess whether optimism about a potential Federal Reserve rate cut in December can hold up.

The S&P 500 Index ($SPX ) (SPY ) on Monday closed up by +1.55%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up by +0.44%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up by +2.62%. December E-mini S&P futures (ESZ25 ) rose +1.56%, and December...

Traders are rapidly piling into bets that the Federal Reserve will slash interest rates in December, a sharp reversal from just days ago when most expected the central bank to keep borrowing costs unchanged amid inflation concerns.

The dollar index (DXY00 ) on Monday fell by -0.03%. The dollar posted modest losses on Monday and came under pressure on dovish comments from Fed Governor Christopher Waller, who said he’s advocating a December rate cut by the Fed. Mr. Waller’s comments pushed the chance of a Fed rate...

The S&P 500 Index ($SPX ) (SPY ) today is up by +1.21%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up by +0.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up by +2.01%. December E-mini S&P futures (ESZ25 ) are up +1.28%, and December...

The dollar index (DXY00 ) today is up by +0.06%. Weakness in the yen is supporting gains in the dollar today, as the yen attempts to hold above last Friday's 10-month low. Gains in the dollar are limited after dovish comments from Fed Governor Christopher Waller, who said he's advocating...

The S&P 500 Index ($SPX ) (SPY ) today is up by +0.61%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up by +0.18%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up by +1.51%. December E-mini S&P futures (ESZ25 ) are up +0.61%, and December...

Governor Christopher Waller has pushed for a 25-basis-point cut, citing a weakening labor market, rising reports of layoffs, and softening private-sector hiring. He argued that inflation, once temporary price pressures are excluded, is moving closer to the Fed's 2% target.

A December rate cut is far from certain as inflation continues to run above the Fed's target. At the same time, risks to the US job market remain.