Fed’s Waller Favors More Rate Cuts, But Warns Against Moving ‘Aggressively And Fast’: Report

In an interview with CNBC, Waller expressed concerns about conflicting signals from economic data, pointing to a weakening labor market even as the GDP growth remains strong.

Federal Reserve Governor Christopher Waller reportedly said on Friday that he believes the policy rate still needs to be cut further, but cautioned that the approach must be cautious.

In an interview with CNBC, Waller expressed concerns about conflicting signals from economic data, pointing to a weakening labor market even as the gross domestic product (GDP) growth remains strong.

“I’m still in the belief we need to cut rates, but we need to kind of be cautious about it. I want to move towards cutting rates, but you’re not going to do it aggressively and fast, in case you make a big mistake on which way that things go,” Waller stated.

He added that either the labor market must strengthen to match GDP growth, or GDP growth will experience a pullback. Either way, he said, “something’s got to give,” and that it will have an impact on the Fed’s monetary policy.

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