Fed's Waller: We want to get above neutral rate by the latter half of the year

Waller on CNBC High inflation in CPI report wasn't surprising Expects to see moderation in house price increases in the coming months Prefer 50 bps in May and possibly more in June and July March CPI is 'pretty much the peak' Fed will continue with its plan for rate hikes and reducing accommodation to get inflation under controlWe are not in a Volcker moment, economy doesn't need a shockIf inflation keeps going, so will weConsumers have a lot of money in their bank accountsThere's still a fair bit available in people's accounts to absorb higher prices The comment on 'peak inflation' should get some attention. The market is moving on the idea that inflation will be solved with 2.5% rates or something in that range. So while the Fed has just started the cycle, the market is already looking beyond the end of the cycle.