Federal Reserve Governor Christopher Waller said Thursday he is leaning toward keeping interest rates steady at the September meeting provided there are no surprises from upcoming inflation data. Headline inflation was at 3.7% and core at 3.3% for July, but Waller highlighted that the three-month rate, the Fed’s preferred gauge, has slipped from 4.76% in February to 3.05% currently, representing considerable improvement. The policy rate remains slightly restrictive and may need tightening if August inflation rebounds. The consumer and producer price indexes will be released next week ahead of the September 15-16 meeting.
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