Waller is under pressure to respond to a core issue: Is current inflation truly a problem? If so, how should it be addressed? On Thursday, some of Waller’s colleagues expressed their ongoing concerns over the inflation situation in the United States. Data released by the U.S. government on Wednesday showed that the annual inflation rate in July remained unchanged, staying significantly above the Federal Reserve’s 2% target for the 65th consecutive month. The Fed’s preferred measure to gauge und

Walsh is under pressure and needs to address a central question: Is current inflation truly a problem? If so, how should it be handled? On Thursday, some of Walsh's colleagues shared their ongoing concerns about the US inflation situation. Data released by the US government on Wednesday showed that the annual inflation rate in July remained unchanged, marking the 65th consecutive month significantly above the Federal Reserve’s 2% target. The indicator that Federal Reserve officials use to assess potential inflation trends, the so-called core PCE price index, maintained a year-on-year increase of 3.3% in July; the month-on-month increase rose from 0.1% in June to 0.2%. Overall inflation data exceeded expectations, causing a slight uptick in market expectations for the Federal Reserve to potentially raise interest rates as early as next month.