Waller Says Inflation Report Will Decide Fed Rate Hike Fate

Federal Reserve governor Christopher Waller stated that the upcoming inflation report will largely determine whether he supports an interest rate hike later this month or not.

The government is set to release August's 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, he would consider a rate hike.

Borrowing costs are only 'slightly restricting' consumer and business demand, according to Waller, and it may not take much acceleration in inflation for him to support a rate hike.