Fed's Waller (Voter) says that further policy tightening will be needed; Waller says half-point rate hike may be needed in December if October core CPI inflation comes in around 0.3% or higher

OUTLOOK FOR INTEREST RATES Waller says half-point rate hike may be needed in December if October core CPI inflation comes in around 0.3% or higher Waller would support quarter-point rate hike in December even if October CPI improves Waller says further policy tightening will be needed FORWARD GUIDANCE Waller says what matters is that promised hikes are delivered within a reasonable period of time Waller says he was willing to wait on policy tightening in October INFLATION Waller says US inflation is too high Waller says September's inflation data were bad Waller says he is particularly concerned about the breadth of price increases Waller says Fed staff analyses suggest more producer price increases ahead Waller says Fed staff analyses point to potential for energy price shock to be more persistent LABOUR MARKET Waller says labour market is solid, with supply and demand roughly in balance Waller says employment is close to the Fed's goal Waller says it is unclear whether labour market is as healthy as the unemployment rate suggests Waller says questions over labour market dynamism and productivity growth need more research GDP GROWTH Waller suspects GDP growth is backing off in current quarter Waller expects output to continue growing at a solid pace