Christopher Waller, the Federal Reserve’s newest governor, expects a surge in economic activity this year, but doesn’t yet see a need for the U.S. central bank to pull back on its extensive monetary policy support.
“I think the economy is ready to rip,” Mr. Waller said in an interview on CNBC. He said he expects the U.S. economy to grow 6.5% this year amid a decline in unemployment to the low 5% range, from the current 6%, by year’s end. He sees inflation rising to about 2.5% by the end of 2021, compared with the Fed’s 2%…
