Federal Reserve governor Christopher Waller said he could support raising the central bank’s benchmark interest rate next month by a half-percentage point if economic data in the next few weeks show evidence of accelerating price pressure, adding his voice to the debate over the size of the likely increase.
“We constantly say we have the tools to fight inflation, and now we must demonstrate the will to use them,” Mr. Waller said in remarks at the University of California, Santa Barbara, on Thursday evening. Inflation “is far too high and needs to come down,” he said.
