Federal Reserve Governor Waller: Supports Risk Management Rate Cut in December
BlockBeats News, November 18th — Federal Reserve Governor Waller stated that he supports another rate cut at the December meeting as he is increasingly concerned about the sharp slowdown in the labor market and employment. Waller said, "I'm not worried about accelerating inflation or a significant increase in inflation expectations. My focus is on the labor market, which, after several months of weakness, is unlikely to be changed by this week's September employment report or any other data in the coming weeks. It is necessary to cut interest rates again." Waller specifically noted that he tends to cut rates by 25 basis points once again.
Waller said, "I am concerned that restrictive monetary policy is putting pressure on the economy, especially its impact on low- and middle-income consumers. The December rate cut will provide additional insurance against the labor market accelerating weakening and move policy towards a more neutral direction." At the same time, he stated that price data indicates that tariffs will not have a long-term impact on inflation. Another rate cut would be a risk management practice. (FXStreet)
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