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On July 14 (UTC+8), Federal Reserve Governor Waller said on Monday that when reviewing the inflation data to be released this week, he would pay more attention to the message conveyed by another high inflation reading than he would to lower inflation readings.
Waller said, "We have basically seen inflation readings of 'higher, higher, higher, higher' for nearly five to six months." He also stated, "If another higher number appears, I will consider it a signal, not noise. But if the inflation data goes down, then given that high inflation has occurred for five or six consecutive months, I may need one or two more months of data to conclude: 'Okay, this is indeed a signal.'" (Source: JIN10)[ME News]
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