Waller signals Fed is open to bigger cuts
Federal Reserve Governor Christopher Waller said today that the current economic data warrants action, suggesting that the Federal Reserve is fully prepared to cut rates.
“While the labor market has clearly cooled, based on the evidence I see, I do not believe the economy is in recession or necessarily headed for one soon,” Waller added. He added that the Federal Reserve may have to 'front-load' cuts, a comment that suggests the Fed could cut rates by 50 basis points at the upcoming meeting in September.
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