A Fox Business host declared on Tuesday that President Donald Trump's economy is performing "nowhere near good enough," after a batch of worse-than-forecast economic data raised the prospect that the Federal Reserve could respond with a larger interest rate increase than expected — a move with significant implications for consumers.

Taylor Riggs, host of the Fox Business program "Big Money Show," was reacting to the Consumer Price Index report for October, a monthly release from the Bureau of Labor Statistics that arrived Tuesday morning. The data showed that "headline" inflation — the rate of price increases across all consumer sectors — remains elevated beyond expectations, climbing 0.4 percent in October from a month earlier, above the 0.3 percent rise economists had hoped for. "Core" inflation, which strips out volatile food and energy prices, rose 0.3 percent, ahead of the 0.2 percent economists had expected and matching September's level. The hardest-hit categories were vital expenses: food, rent, medical care, and transportation.

While Riggs acknowledged that the pace of the increases has decelerated slightly, she stressed that the readings were still uncomfortably hot. "It is hotter than expected. Similar to the core, flat in line with where we were before, but again, hotter than expected," she said in comments carried on Fox Business. "We were looking at maybe a deceleration here because we thought a big jump in gas prices would start to come down. And I would say that we are nowhere near good enough."

Riggs also reminded viewers that earlier that morning, Christopher Waller, a member of the Federal Reserve's Board of Governors, had warned that if core inflation came in at 0.3 percent or higher — "which is where we are," she noted — he would favor a 50 basis point hike rather than a more modest 25 basis point move. A basis point is one-hundredth of a percentage point, meaning Waller was weighing a half-point increase against a quarter-point one.

"Inflation is too high … this means that even if, as I expect, the monthly rate of inflation improves in October, I am leaning toward supporting an increase in our policy rate of 25 basis points at the FOMC's December meeting," Waller said in a speech in London. The FOMC, the Federal Reserve's rate-setting committee, holds eight scheduled meetings a year and sets the federal funds rate, the benchmark rate that influences borrowing costs across the economy. Its decisions are guided by a long-standing goal of 2 percent inflation over time — a target Waller made clear the economy is not yet meeting.

He cautioned, however, that a hotter-than-expected October report — which is what ultimately arrived — could force more dramatic action. "In that case, I believe a 50-basis point hike in the policy rate should be considered at the December meeting," he said. "Hiking only 25 basis points would put our credibility at risk, a risk I am not eager to take."

"Let's just say it: September's inflation data were bad. There was no silver lining," he added.

Raising interest rates can help bring inflation under control, but the policy carries costs. Mortgage rates tend to climb along with the federal rate, compounding pressures in an already unaffordable housing market, while higher borrowing costs for businesses can restrict growth, hiring, and other investments. Rates on consumer credit — including credit cards and auto loans — typically move higher as well, which is why the size of the December decision carries weight well beyond financial markets.

"One hopes inflation starts returning to normal, but that's a hope right now, not a reality," economist Justin Wolfers wrote in a post on X responding to the latest data.