Federal Reserve Governor Waller said support for any September rate increase will depend heavily on the August CPI report due next week. He said he is willing to back keeping rates unchanged if inflation continues to move toward the 2% target, but would consider a hike if the data comes in higher than expected. Waller said current policy is slightly restraining economic growth. He added that only clear evidence that progress toward the 2% inflation target has reversed would justify a small policy adjustment to help return inflation to target.