Fed's Waller just threw cold water on the tariff-inflation panic. His take? The inflation spike everyone predicted from tariffs? Yeah, it's a no-show. "Should've happened by now," he pointed out. His message to rate hawks is pretty blunt: stop hiding behind weak excuses and let's talk rate cuts.

Interesting timing. Markets have been pricing in this whole tariff-driven inflation nightmare, but actual data keeps missing the script. Waller's basically saying the emperor has no clothes here. If tariffs were gonna wreck price stability, we'd already see it in the numbers. We don't.

For those tracking monetary policy signals, this matters. A Fed governor publicly pushing back on the inflation narrative? That's not nothing. Rate cut odds just got a little more interesting.

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Layer2Arbitrageur

· 11h ago

lmao waller just pulled the rug on the entire inflation narrative. the math doesn't lie—tariffs were supposed to blow up CPI by now and we're just sitting here flat. if you ran the numbers on actual price action vs market expectations, you're looking at like 300+ bps of mispricing. classic inefficiency.

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SlowLearnerWang