Federal Reserve Governor Christopher Waller said Tuesday the central bank needs to follow through on expectations for additional interest rate hikes or risk its credibility, even suggesting that a larger-than-usual half-percentage-point increase could be warranted in December. Speaking in London, the policymaker said he "is leaning toward" a rate increase in December even if the October inflation data comes in softer than expected — and would support "more robust action" if readings come in higher than forecast. "In that case, I believe a 50 basis point hike in the policy rate should be considered at the December meeting," he said. "Hiking only 25 basis points would put our credibility at risk, a risk I am not eager to take.
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