Fed Governor Waller Suggests Near-Term Rate Hikes Possible if Inflation Persists

Federal Reserve Governor Christopher Waller indicated that the central bank might need to raise interest rates soon if inflation remains significantly above the 2% target. He described monetary policy as being at a "crossroads" and stressed the need for decisive action if economic data does not show sustained improvement in inflation. Waller also noted the resilience of household and business spending despite various cost pressures.