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Friday, September 4, 2026

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Federal Reserve · Friday, September 4, 2026

Fed Governor Waller leans toward holding rates if August inflation keeps cooling

The File desk · Sep. 4, 2026, 8:12 a.m. ET

Status

Confirmed from Governor Waller’s own Sept. 3, 2026, remarks as posted by the Federal Reserve Board. These are his views, not a rate decision by the Federal Open Market Committee.
On Sept. 3, 2026, Federal Reserve Governor Christopher J. Waller, speaking at a Reuters NEXT Newsmaker interview in Washington, said inflation remains meaningfully above the committee’s 2 percent goal but recent data show signs of cooler inflation. If that continues in data due over the next two weeks, he would be inclined to support holding the federal funds target at its current setting. If August data show the improvement was fleeting, a rate increase at the Sept. 15–16 meeting may be appropriate. He said the labor market is in satisfactory shape and he expects more of the same in the August employment report (due Sept. 4). The views are his own, not necessarily those of the Board or the Federal Open Market Committee.
The Federal Reserve Board posted “Speech by Governor Waller on the economic outlook,” delivered at a Reuters NEXT Newsmaker Interview, Washington, D.C. Waller: “The short version is that, while inflation remains meaningfully above the Federal Open Market Committee's (FOMC) 2 percent goal, recent data suggest we are finally seeing some signs of disinflation. If this continues in the data due over the next two weeks, I would be inclined to support holding the target for the federal funds rate at its current setting.” “If the incoming data for August show this improvement has been fleeting, then it may be appropriate to raise the policy rate when the FOMC meets on September 15 and 16.”
On the labor market: “it is also in satisfactory shape.” “I expect more of the same tomorrow when we get the August employment report.” That report is scheduled 8:30 a.m. Eastern Friday, Sept. 4, and was not printed at this edition’s lock.
Footnote 1 on the posted remarks: “The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee.” This file does not treat the remarks as a committee decision.

What is still unknown or disputed

Primary sources

Every claim in this story is drawn from the documents below. If a fetch failed, that is recorded on the card.

  1. Source 1

    Speech by Governor Waller on the economic outlook

    Federal Reserve Board · September 3, 2026

    If this continues in the data due over the next two weeks, I would be inclined to support holding the target for the federal funds rate at its current setting. If the incoming data for August show this improvement has been fleeting, then it may be appropriate to raise the policy rate when the FOMC meets on September 15 and 16. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee.

    https://www.federalreserve.gov/newsevents/speech/waller20260903a.htm