Federal Reserve Board Member Waller stated that the rise in energy prices triggered by the Middle East conflict is pushing up U.S. inflation, supporting the removal of the "dovish" language in future policy statements, and emphasizing that the probabilities of rate cuts and hikes are now balanced. He said that if inflation expectations show signs of getting out of control, a rate hike may not be ruled out in the future, but currently he prefers to keep rates unchanged and observe data changes. The Fed's mouthpiece Nick Timiraos indicated that Federal Reserve Board Member Waller's latest speech is overall hawkish.

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