Federal Reserve Governor Waller Signals December Rate Hike, Considers Larger Increase if Inflation Worsens

Federal Reserve Governor Christopher Waller stated that the U.S. central bank needs to act swiftly to address inflation, indicating support for an interest rate hike in December. He also mentioned considering a 0.5 percentage point increase if the upcoming October CPI report shows a significant rise in pricing pressures. Markets are now fully pricing in a December rate hike following these remarks.