Fed Governor Waller says he is leaning toward a December rate hike, may back 50bp if inflation surprises

On November 10, 2026 Fed Governor Christopher Waller said he is "leaning toward" a policy-rate increase at the December FOMC meeting and that he would support a 50 basis-point hike if incoming inflation data were substantially higher than expected.

Waller's public leaning toward a December hike tightens the outlook for global interest-rate expectations and can push U.S. Treasury yields higher if markets reprice. Higher U.S. yields typically raise global funding costs and can put upward pressure on emerging-market sovereign yields, including South African rand-denominated government bonds, though local outcomes will depend on domestic policy and FX moves.

December FOMC meeting (policymakers' vote and statement).