(Reuters). Federal Reserve Governor Christopher Waller stated Wednesday that he believed inflation had “pretty much” peaked. However, the U.S. central banking still has to raise interest rates aggressively. That includes half-point increments in May as well as possible in June and July.

Waller told CNBC that the Fed should get rates back to neutral as quickly as possible. Waller also stated that it is important to keep rates above neutral by the end of this year. He said the Fed can increase rates without putting the economy in recession.