In Other News · United States

Source: Axios

A couple more interest rate hikes are probably on the way. But the Federal Reserve is in no great hurry to deliver them. That's the takeaway from the latest round of communications out of the central bank.Why it matters: It implies that the Fed is not in a full-scale effort to tighten the screws on the economy, but rather a cautious recalibration in light of inflationary pressures and robust growth.With Fed chairman Kevin Warsh declining to offer much in the way of guidance, traders and Fed watchers must look to other communications for clues — and the message has been strikingly consistent across the latest crumbs of information.Driving the news: Speaking Thursday morning in Istanbul, Fed governor Christopher Waller explained, with distinctly non-Warshian detail, what kind of interest rate path he anticipates."If the economic data continue to come in as expected, I anticipate additional hikes to support a timelier return of inflation to our 2 percent goal," he said. "But there is some flexibility about when those hikes will occur. The hikes do not need to come at consecutive meetings, but they should be in place in an acceptable period of time."That aligns with the language in the minutes of the...