Waller signals possible near-term rate hike if core inflation stays elevated

Fed Governor Christopher Waller said the Fed may need to raise rates in the near term if upcoming inflation data keep core inflation well above the 2% target, stressing that another hot reading would be treated as a signal to tighten due to broad-based core-service inflation and anchored expectations; markets price a meaningful chance of a July or September move, underscoring the data-driven crossroads facing policy makers.