[Waller Says Inflation Risk Has Surpassed Employment Risk, Market Focuses on July CPI] Golden Finance reports that on July 7, Federal Reserve Governor Waller stated that the U.S. labor market has stabilized, while inflation has re-accelerated. Currently, inflation risk has surpassed employment risk, marking a complete reversal from policy considerations a year ago. He noted that last year, he supported rate cuts due to a weak labor market, but now the policy focus should shift back to curbing inflation. The market is now turning its attention to the June CPI, set to be released on July 14, which will be the last key inflation data before the Federal Reserve meeting on July 28-29. Although international oil prices have fallen to around $70 per barrel, Federal Reserve officials still expect inflation at the end of the year to be significantly above the 2% target. The market anticipates that the Federal Reserve will raise interest rates no later than September, with the probability of a rate hike in July at approximately 25%. Several officials have already signaled further tightening of monetary policy.