New York, July 14 -- US Federal Reserve Governor Christopher Waller's address at the New York Association for Business Economics framed a pivotal moment: the Fed is standing at a critical crossroads, haunted by its slow response to the inflation spike of 2021, and firmly rejecting passivity in the face of climbing prices.

"Unless I see evidence of a significantly weakening labour market, my focus will be on inflation," stated Waller, warning that the US central bank may need to implement tighter monetary policy if core inflation remains firmly elevated or continues its upward trajectory.

Speaking at the New York Association for Business Economics in New York, Waller highlighted that while household spending, business investments, and th...