Fed governor says December rate hike is coming — maybe a big one

Federal Reserve Governor Christopher Waller said the central bank will likely raise interest rates again in December, and might even opt for a larger-than-normal half-percentage-point hike. He argued the Fed must follow through on its warnings to maintain credibility with financial markets, even suggesting that a 25 basis point increase would be too timid if inflation data remains stubbornly high.

This stance signals that the Fed remains committed to its inflation fight, despite skipping a hike in October. For engineers, developers, and anyone with a mortgage or investments, higher rates mean continued pressure on borrowing costs and a potential economic slowdown. The key takeaway: the Fed isn't done tightening yet, and Wall Street should brace for more expensive money.