Fed Governor Waller Signals More Rate Hikes Likely, Citing Flexibility in Pace

U.S. Federal Reserve Governor Christopher Waller indicated that additional interest rate hikes would likely be necessary to bring inflation down to the Fed's 2% target. However, he also highlighted "flexibility" regarding the pace of these increases, suggesting that hikes do not need to occur at consecutive meetings and leaving open the possibility of a pause at the upcoming October meeting. Waller's remarks were made at the Istanbul Economic Forum.