In a speech on the 13th, Federal Reserve Governor Christopher Waller stated clearly that if the June core CPI reading due on the 14th comes in above expectations, the Fed will need to consider tightening monetary policy soon. According to Wells Fargo, the core index is expected to rise 2.8 percent year-on-year, a slowdown in growth, but an upside surprise could intensify the debate over a rate hike at this month's policy meeting. Waller cited the AI boom and persistently high energy prices as sources of inflationary pressure, stressing that the Fed must be ready to tighten policy.