(Reuters) – Federal Reserve Governor Christopher Waller on Wednesday said he believes inflation has “pretty much” peaked, but the U.S. central bank still needs to raise rates aggressively, including in half-point increments in May and possibly in June and July.

The Fed needs to get rates to neutral as soon as possible, and above neutral before the later part of the year, Waller said in an interview on CNBC. The Fed can raise rates without pushing the economy into recession, he added.

(Reporting by Ann Saphir; editing by Jonathan Oatis)