Federal Reserve Gov. Christopher Waller on Thursday said he backs big increases in a key U.S. interest rate over the next several months to drive U.S. inflation lower and make sure the public doesn’t come to expect rapidly rising prices.
“It’s just too high and doesn’t seem to be coming down,” Waller said in a “fireside chat” held by the National Association of Business Economists. The cost of living as measured by the consumer price index hit a 40-year high of 8.6% in May.
The…
