Waller: Give Disinflation a Chance Before Rate Hike Consideration

Federal Reserve Governor Christopher Waller expressed support for holding interest rates steady if US inflation continues to ease in August. Speaking at a Reuters event, he stated that inflation was 'making slow but continued progress' toward the 2% target.

Waller's comments come after headline inflation cooled to 3.4% in July, while underlying prices rose by 0.2%. However, the annual rate of underlying inflation fell to its lowest level since March at 2.5%.

The governor emphasized that if inflation 'comes in hot' in August, he would consider a rate hike. He also referenced John Lennon's phrase, saying 'Give disinflation a chance.'