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Wollers sets the tone for Tuesday's CPI: Hot inflation will support recent interest rate hikes
PANewsJul 13, 2026
Federal Reserve Governor Christopher Waller said on Monday that the Fed may need to raise interest rates “in the near term” if upcoming data shows inflation remains significantly above its 2% target. He described current monetary policy as being at a “crossroads.” Waller stated that this direction will be determined by new information, such as the CPI report released on Tuesday; if the data shows an adverse trend, the Fed is currently in a phase where it should not “become complacent.”
Waller said: “At the current policy stance, inflation could still gradually decline toward the 2% target. However, I am equally concerned about the possibility of an alternative scenario—namely, that data over the coming weeks may show inflation remaining elevated—or even rising further—which would necessitate tighter monetary policy in the near term.”[PANews]
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