Federal Reserve Governor Christopher Waller said the central bank needs to tighten monetary policy further, citing persistently high U.S. inflation and broad-based price increases. Waller stated he supports a 25 basis point rate hike at the December meeting, even if October CPI data shows improvement over September's "terrible" readings. Waller added that if October core CPI comes in at approximately 0.3% or higher, the Fed may need to raise rates by 50 basis points in December. His remarks signal growing urgency within the Fed as inflation pressures remain elevated heading into year-end policy decisions.