Waller on Friday backed an interest rate cut at the upcoming policy meeting, noting the importance of supporting a weakening jobs picture.
"Considering the achieved and continuing progress on inflation and moderation in the labor market, I believe the time has come to lower the target range for the federal funds rate at our upcoming meeting," Fed Governor Christopher Waller said.
Federal Reserve Governor Christopher Waller on Friday backed an interest rate cut at the upcoming central bank policy meeting in less than two weeks, noting the importance of supporting a weakening jobs picture.
Waller did not specify how much he thinks the Fed should cut or how frequently. But he said he is open to the possibility that it may need to be aggressive in keeping the labor market afloat as inflation moderates towards the central bank's 2% goal.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Traders are now pricing in 50% chance of Fed cutting rates by 50 bps in SeptemberTraders are now pricing in 50% chance of Fed cutting rates by 50 bps in September
Read more »
Should you wait for the September Fed meeting to buy a home?With rate cuts looming, buyers may be wondering if they should wait to buy a home. Here's what to consider now.
Read more »
Probability of 50bps Fed rate cut in September jumpProbability of 50bps Fed rate cut in September jump
Read more »
Probability of 50bps Fed rate cut in September jumpProbability of 50bps Fed rate cut in September jump
Read more »
GBP/USD strengthens above 1.3100 as September Fed rate cut bets remain in playThe GBP/USD pair gains ground around 1.3135, snapping the three-day losing streak during the early Asian session on Monday.
Read more »
GBP/USD strengthens above 1.3100 as September Fed rate cut bets remain in playThe GBP/USD pair gains ground around 1.3135, snapping the three-day losing streak during the early Asian session on Monday.
Read more »