WSJ reporter Nick Timiraos says Fed Governor WALLER’s overall stance has not
fundamentally changed since July but has shifted from a July tilt toward
tightening to cautious optimism and a preference to hold rates. For the Sep
15-16 policy meeting, WALLER’s path is conditional on August inflation:
continued progress toward the 2% goal implies holding rates; a hotter August
print would prompt consideration of a rate hike.
