The latest U.S. inflation data points to the Federal Reserve needing to keep rates at their current levels, Fed Governor Christopher Waller said late Wednesday.

“There is no rush to cut the policy rate,” he said in a speech at the Economic Club of New York. Recent data “tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2%.”


READ MORE: There’s ‘no rush’ to cut rates yet, Fed governor says