Federal Reserve Governor Christopher Waller says the central bank’s next interest-rate move later this month depends largely on an upcoming inflation report scheduled for next week. Waller indicates that the data will influence whether he supports a rate hike or instead prefers holding rates steady.

In comments reported by multiple outlets, Waller frames the inflation release as the key determinant for his position. One outlet highlights that if the report shows inflation running “hot,” he would consider supporting a hike, while colder-than-expected inflation would likely reduce the case for further tightening. The reporting agrees on the central message: the timing and direction of the Fed’s next policy step are tied to the next inflation figures.

While the sources do not diverge on the underlying premise, they emphasize it through slightly different wording. One story focuses on how much weight the inflation report carries in his decision-making, and another foregrounds his conditional view—supporting a hike only if the inflation outcome is sufficiently unfavorable. In all accounts, the inflation data function as the immediate policy catalyst.