Fed official supports 0.75 percentage point rate rise in July

A top US Federal Reserve official expressed early support for another 0.75 percentage point interest rate rise at the central bank’s next meeting in July, in anticipation that inflation will not moderate sufficiently to slow the pace of monetary tightening.

In a remarks delivered on Saturday, Christopher Waller, a Fed governor, affirmed the central bank’s commitment to tackling the worst inflation problem in more than forty years,…