02:24 PM EDT, 07/13/2026 (MT Newswires) -- Fed Governor Christopher Waller (voter) said that he is watching core inflation, which excludes food and energy prices, closely to determine the underlying path of price growth and to make monetary policy decisions.

Waller's comments come one day before the release of June consumer inflation data that is expected to show a slowdown in overall prices due to a drop in gasoline prices but a further gain in core prices that would maintain the current year-over-year rate.

Recent comments of note:

(July 10) The Federal Reserve's semiannual policy report to Congress repeated comments from Fed officials that the FOMC will "deliver price stability," but markets will be more focused on Fed Chairman Kevin Warsh's first testimony as chair on July 14 and 15. Warsh's first day of testifying will coincide with the release of consumer price data for June.

(July 9) New York Fed President John Williams (voter) said that he expects energy prices to slow this year even as tensions in the Middle East have picked up but would not comment on how the FOMC could act at its next meeting at the end of the month.

(July 8) Minutes of the June 16-17 FOMC minutes showed considerable divisions among the participants regarding the path of monetary policy, most hinging on evolution of inflation. Many participants expected the recent elevated inflation is due to temporary factors that will dissipate and could allow the FOMC to maintain or even lower the target range, which others suggested that inflation will remain elevated and require rate increases.

(July 6) Fed Governor Christopher Waller (voter) said that forward guidance is useful in some cases, including as tool in place of actual rate actions, but requires flexibility when conditions evolve differently from was expected.