Fed’s Chris Waller Backs December Rate Hike Over Inflation Concerns

Fed Governor Chris Waller said he would back an interest-rate increase at the December FOMC meeting even if upcoming inflation data improves, and floated support for a 50-basis-point hike should inflation come in hotter than expected. The remarks signal continued tightening bias at the central bank despite recent hopes for a slower pace. Traders will watch the next inflation prints and the December FOMC decision for confirmation of the rate path.