Fed Governor Waller says Iran war and labor market risks are keeping central bank on hold

"High inflation and a weak labor market would be very complicated for a policymaker," the central banker said for a speech in Alabama. "If I face this situation, I'll have to balance the risks to the two sides of the Fed's dual mandate to determine the appropriate path of policy, and that may mean maintaining the policy rate at the current target range if the risks to inflation outweigh those to the labor market," Waller added.