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Fed Governor Waller Signals No September Rate Hike Unless Inflation Reverses

He said the effects of tariffs and higher energy costs appear to have been limited so far.

,   and  TIPP Staff
2 min read
Fed Gov. Waller (Pic via X)

Federal Reserve Governor Christopher Waller said Thursday he is inclined to support keeping interest rates unchanged at the September meeting, provided upcoming inflation data does not show a significant deterioration, according to CNBC.

Waller said inflation remains above the Fed’s 2% target but argued that recent trends point to renewed progress. He said the effects of tariffs and higher energy costs appear to have been limited so far.

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The Fed governor noted that its preferred three-month inflation measure has fallen from 4.76% in February to 3.05%, which he described as encouraging. July headline inflation stood at 3.7%, while core inflation was 3.3%.

However, Waller cautioned that his position could change if August data shows inflation moving higher. The Bureau of Labor Statistics is scheduled to release consumer and producer price data before the Fed’s September 15-16 meeting.

His comments differ from a more hawkish tone recently struck by Fed Chairman Kevin Warsh, who questioned whether underlying inflation had improved enough to justify easing concerns.

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