Christopher Waller warns Fed may raise rates if inflation persists
Business
Federal Reserve Gov. Christopher Waller just signaled that interest rates could go up again if inflation keeps sticking around.
He pointed out that this week's consumer inflation report is a big deal, and warned that rising energy prices, thanks to renewed U.S.-Iran tensions, might slow down progress toward the Fed's 2% goal.
Waller flags broadening price pressures
Waller also said price pressures are popping up in more places than just energy, hinting at bigger issues in the economy.
He cautioned, "If we get another hot reading on core inflation this week, then the FOMC will need to consider tightening monetary policy in the near term."
Even though jobs are steady right now, he made it clear: if high inflation doesn't let up for several months, the Fed is ready to act.