Fed Governor Waller indicates he will support holding rates steady at September meeting

Federal Reserve Governor Christopher Waller has indicated that he will support holding interest rates steady at the September meeting if upcoming data confirms that inflation pressures are cooling off. According to Yahoo Finance, Waller stated that his decision on the appropriate stance of policy will be heavily influenced by what is learned about August inflation.

Waller expressed confidence in the current inflation trends, as reported by CNBC and CNBC World. He noted that inflation is "meaningfully above" the 2% target but is making slow but continued progress on reaching that goal.

Waller warned that a path to higher interest rates is also in play if inflation comes in hot, and he would consider a rate hike at the September 15-16 meeting. The current Fed policy rate is 3.50%-3.75%, which Waller said is "only slightly restricting aggregate demand." Quartz reported that Waller said incoming inflation data over the next two weeks will be the deciding factor in his vote at the Sept. 15-16 FOMC meeting.

Brief written by urgent.news from CNBC World, CNBC, Yahoo Finance, FXStreet, Quartz — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.