Federal Reserve Governor Christopher Waller said Tuesday the central bank needs to follow through on expectations for additional interest rate hikes or risk its credibility, even suggesting that a larger-than-usual half-percentage-point increase could be warranted in December.

Speaking in London, the policymaker said he “is leaning toward” a rate increase in December even if the October inflation data comes in softer than expected — and would support “more robust action” if readings come in higher than forecast.