Reported about 9 hours ago
Christopher Waller, a key Federal Reserve member, has advocated for a reduction in interest rates at the upcoming meeting, differing from Chair Jerome Powell’s stance. He cited signs of economic weakening, such as decreased consumer spending and cooled job growth, urging the Fed to cut borrowing costs to support the economy. Waller dismissed concerns about temporary inflation due to tariffs, emphasizing the need to focus on core inflation rates, which are nearing the Fed's 2% target. This comes as other Fed members show hesitation towards immediate rate cuts.
Source: YAHOO