← All News**Waller ties his vote to CPI:** In a speech today, Fed Governor Christopher Waller said, "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" — but warned that if August inflation data shows the recent improvement "has been fleeting," a hike at the September 15–16 meeting "may be appropriate." He cited core PCE inflation at 3.3% annually and 3-month core inflation down to 3.05%, from 4.76% in February.
**Yields ease, stocks rally on the remarks:** The comments — which contrast with Chair Warsh's more hawkish Jackson Hole framing — pulled the 10-year Treasury yield down to 4.75% (-5bps) from yesterday's 3-year-high spike, while the S&P 500 rose 1.01% to 7,744, the Dow gained 1.20% to 53,699, and the Nasdaq climbed 1.35% to 26,572; the dollar index slipped 0.6% to 99.00.
Rates & Fed · September 3, 2026 · 1 min read
Fed's Waller Signals Openness to a September Hold, Ties It to CPI
By Econ Data Tools Editorial Team
Published September 3, 2026
A sitting Fed governor breaks from Chair Warsh's hawkish tone, saying he'd back holding rates steady if August inflation data cooperates.
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