Fed's Waller: Further Policy Tightening Will Be Needed; Half-Point Rate Hike May Be Needed In December If October Core CPI Inflation Comes In Around 0.3% Or Higher

Would Support Quarter-Point Rate Hike In December Even If October CPI Improves Versus September - US Inflation Is Too High; September Inflation Data Were Bad - Was Willing To Wait On Policy Tightening In October; What Matters Is Promised Hikes Are Delivered In Reasonable Period Of Time - Particularly Concerned About Breadth Of Price Increases - Suspects GDP Growth Is Backing Off In Current Quarter, But Output Will Continue To Grow At Solid Pace - Fed Staff Analyses Suggest More Producer Price Increases Ahead And Potential For Energy Price Shock To Be More Persistent - Labour Market Solid, Supply And Demand Roughly In Balance, Employment Close To Fed's Goal - Unclear If Labour Market Is As Healthy As Unemployment Rate Suggests; Dynamism And Productivity Growth Questions Need More Research