Federal Reserve Governor Christopher Waller warned on July 13 that the U.S. central bank may need to raise rates “in the near term” if core inflation stays hot. “No matter how you cut it, or what measure you want to use, inflation is up this year,” Waller said. — Federal Reserve Governor Christopher Waller With the July 14 CPI report due, markets are suddenly pricing in a Fed that has stopped treating inflation as a passing problem. The repricing helped push **gold...