WASHINGTON, (Reuters) – Federal Reserve Governor Chris Waller stated that economic risks surrounding the conflict in Ukraine prompted him to support a quarter-percent rate rise at this Fed meeting rather than dissenting in favor the greater half point increase he was advocating.

Waller stated on CNBC that “the data was screaming at us (basis points), but the geopolitical developments were telling you go forward with caution.” Waller indicated that in the coming months, he will favor half percentile increases in policy to “frontload” tighter controls and have a faster impact on inflation.

Waller stated, “Going forward, that will be an issue regarding going 50 in the following couple of meetings or no. But the data suggests we move in this direction.”

Wednesday’s Fed rate rise was the first since 2018. It will be focusing on inflation control. The current level of inflation is at 6%. This is much higher than its 2% target.

Fed officials expect rates to rise to 1.9% before the end of this year. This pace is equivalent to an increase of quarter point at each of six remaining central banks’ meetings.

Waller suggested that central banks should have more inflation-fighting resources in the coming months to combat faster growth.

He said, “I favor frontloading rate increases…Just do it instead of just promising it.”

Although he didn’t specify the exact location where the federal funds target rate would be at the end of the year, he stated that he preferred to go above 2 to 2.25% because he believes it is neutral for the economy.

According to Wednesday’s projections, three policymakers predicted that rates would end the year at 2.375%. One projected 2.625%. James Bullard of the St. Louis Fed believes that rates should finish at 3.125%.