Fed's Waller says higher rates possibly needed in 'near term'

Fed Governor Waller indicated the FOMC may need to tighten monetary policy in the near term if upcoming inflation data shows persistent price pressures. He flagged concerns about inflation broadening beyond the influence of tariffs and energy costs, with the consumer inflation report on Tuesday being the next key data point. The resumption of US-Iran conflict could push oil prices higher, adding to inflation worries for emerging markets like India through stronger dollar and potential FII outflows.