On August 28, Federal Reserve Chairman Waller stated on Friday that if policymakers cannot be confident that inflation is "declining at a clear and sufficiently rapid pace" back to 2%, the Fed "still has work to do." This suggests that if price pressures do not improve, the Fed may consider raising interest rates next. Waller made it clear that he still adheres to the Fed's long-standing policy path of managing inflation through interest rate adjustments. This significantly increases the likelihood of the Fed's next rate hike, which could create a divergence with President Trump, who has long sought rate cuts. This statement essentially eliminates the ambiguity left previously. At the end of July's press conference, Waller refrained from responding extensively to whether a rate hike was necessary to address this year's significantly elevated inflation, which has been above the Fed's target for more than five consecutive years.