a more aggressive monetary policy might be needed next year if inflation readings stay high said federal reserve gov chris waller on tuesday in a speech to stanford institute for economic policy research waller said his base case remains that this year’s high inflation readings start to moderate still the fed governor said he sees “upside pressure on inflation that bears watching” the next few months will tell the tale he added “if monthly prints of inflation continue to run high… a more aggressive policy response than just tapering may well be warranted in 2022” waller said fed officials will meet in two weeks will decide whether to start to slow down the 120 billion per month of purchases of treasurys and mortgagebacked securities in midnovember or december waller said he will support starting to slow down the purchases in midnovember tim duy chief us economist at sgh macro advisors said comments from the fed are moving in an overall hawkish direction he said it will be important to see if fed chairman jerome powell pushes back on such talk at his upcoming speech on friday stocks djia spx were higher on tuesday on the back of strong earning results