Interest rate : Weekly statement September 12

Benchmark interest rate will continue to rise.

Federal Reserve Governor Christopher Waller on Friday echoed the recent sentiments of his colleagues and said he expects a big interest rate hike later this month.

He also said that policymakers should stop trying to guess the future and instead stick to what the data says.

"Looking ahead to our next meeting, I support another significant increase in the policy rate." Waller said in prepared remarks for a speech in Vienna. "But, looking further out, I can't tell you about the appropriate policy path. The maximum range and how quickly we will move there will depend on the data we receive on the economy."

Those comments are similar to recent comments by Fed Chairman Jerome Powell, Vice Chair Lael Brainard and Bullard, who said they were resolute in the effort to reduce inflation.