Fed needs to be aggressive on rate hikes, risk economic harm – Waller

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FILE PHOTO: The Federal Reserve building is seen in Washington, DC

(Reuters) – The U.S Federal Reserve needs to maintain focus on bringing down high inflation even if it runs the risk of causing economic harm, Fed Governor Christopher Waller said on Thursday.

“We’re going to get inflation down. That means we are going to be aggressive on rate hikes and we may have to take the risk of causing some economic damage, but I don’t think given how strong the labor market is right now that that should be that much,” Waller said during a discussion with the National Association for Business Economics.

(Reporting by Lindsay Dunsmuir; Editing by Jonathan Oatis)