August 28, 2025
Let’s Get On with It
Governor Christopher J. Waller
At the Economic Club of Miami, Miami, Florida
Thank you, Jon, and thank you for the opportunity to speak to you today.1
Since I last spoke on the economy and monetary policy on July 17, econo…
Why it matters
- Governor Christopher J. Waller's remarks highlight the pivotal role of monetary policy in navigating current economic challenges.
- His insights shed light on the Federal Reserve's strategies to stabilize the economy and manage inflation.
- The speech underscores the importance of collaboration between policymakers and economic stakeholders to foster growth.
In a recent address delivered at the Economic Club of Miami, Governor Christopher J. Waller shared his perspectives on the current state of the economy and the critical role of monetary policy. Speaking to an audience of business leaders and economists, Waller emphasized the urgency of taking proactive measures to address the economic landscape, which has been shaped by inflationary pressures and global uncertainties.
“Thank you, Jon, for the warm introduction, and to everyone present for this opportunity to discuss a matter that is on all our minds,” began Waller. He acknowledged the challenges faced by both consumers and businesses, and he reaffirmed the Federal Reserve's commitment to maintaining economic stability while fostering sustainable growth.
Waller’s discourse centered around the consequences of recent economic trends and the measures the Federal Reserve is prepared to implement to ensure a robust recovery. He noted that inflation has remained a persistent issue, complicating the economic recovery process. “Our recent data indicates that inflation remains above our target levels, which necessitates a careful reevaluation of our monetary policy approach,” said Waller, highlighting the Fed's responsibility to adjust interest rates as needed to combat rising prices.
The governor articulated the importance of transparency and communication from the Federal Reserve to the public. He stressed that clarity in policy decisions is essential for building trust and confidence among consumers and investors alike. “It’s our duty to ensure that our actions are understood and that the public knows what to expect from us moving forward,” he stated, underscoring the Fed's role in guiding the economy through uncertain times.
Waller also touched upon the need for collaboration with various sectors of the economy. He acknowledged that the interplay between fiscal policy and monetary policy is more crucial than ever. “We must work together—policymakers, businesses, and the community—to create a synchronized approach that promotes growth while managing inflation,” he urged, calling for a united front to tackle the multifaceted challenges facing the economy.
The governor provided insights into the Federal Reserve's tools and strategies to mitigate inflation, mentioning that interest rate adjustments are a fundamental part of the policy toolkit. He emphasized that while raising rates may pose short-term challenges, it is a necessary step to rein in inflation and restore economic equilibrium. “We are committed to acting decisively, but we also recognize the need to balance our actions to support ongoing recovery efforts,” Waller explained.
Additionally, Waller reflected on the role of innovation and technological advancements in driving economic growth. He encouraged businesses to invest in new technologies that can enhance productivity and efficiency. “Innovation is a key driver of economic expansion, and we must embrace it as we navigate these turbulent waters,” he asserted, advocating for a forward-looking approach that prioritizes adaptation and resilience.
The speech concluded with Waller reiterating his confidence in the resilience of the U.S. economy. He acknowledged the difficulties ahead but remained optimistic about the potential for recovery. “While we face challenges, I believe in our ability to overcome them through collective effort and sound policy,” he concluded, leaving the audience with a sense of hope and purpose.
Governor Waller’s address at the Economic Club of Miami serves as a reminder of the crucial role that monetary policy plays in shaping economic outcomes. As the Federal Reserve navigates these uncertain times, Waller’s insights provide valuable guidance for stakeholders across the economic spectrum, emphasizing the importance of unity and proactive measures in the quest for stability and growth.
