Waller Says Inflation Report Will Decide Rate Hike Fate

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

The government will release August inflation figures on September 11, and if they show inflation continuing to cool, Waller would be willing to keep the Fed's benchmark interest rate unchanged.

However, if inflation comes in hot, he would consider a rate hike. According to Waller, borrowing costs are only 'slightly restricting' consumer and business demand, and it may not take much acceleration in inflation to nudge him into supporting a rate hike.