Federal Reserve Governor Waller Says Further Rate Hikes Needed but Not Consecutively

Federal Reserve Governor Waller stated that if economic data meets expectations, the Fed will implement further rate hikes, but there is no need to raise rates consecutively at each meeting; rate hikes should be implemented within an acceptable timeframe. Waller pointed out that U.S. inflation has been above the Fed's target for about five and a half years, with factors such as artificial intelligence infrastructure development and ongoing energy shocks continuing to exert inflationary pressure, which could pose risks to inflation expectations. Meanwhile, the labor market remained robust in September; although the number of new jobs declined, there is evidence that the U.S. economy is strengthening in the second half of 2026. Waller also mentioned that the Fed can avoid making explicit commitments to forward guidance while improving communication by signaling potential policy options to the market.

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