Waller Sees Even Odds for Rate Hike or Cut as Next Fed Move (4)

Federal Reserve Governor Christopher Waller said he supports making clear the central bank’s next interest-rate move is just as likely to be an increase as a cut, as the energy shock from the Iran war pushes up prices.

Waller said his current position is to be patient in holding rates until the war’s impact is clearer, but he warned on Friday that he wouldn’t rule out a future rate hike if inflation doesn’t start to slow soon.

“Inflation is not headed in the right direction,” Waller said Friday in a speech titled Policy Risks Have Changed delivered at a conference ...