Waller Says Inflation Report Will Decide Fate of Interest Rate Hike

Federal Reserve Governor Christopher Waller said Thursday that the upcoming inflation report will determine whether he supports an interest rate hike later this month.

The government is set to release August inflation figures on September 11, and if they show continued cooling, Waller would be inclined to keep the Fed's benchmark interest rate unchanged.

However, if inflation comes in hot, Waller would consider a rate hike, stating that borrowing costs are only 'slightly restricting' consumer and business activity.