Fed Governor Christopher Waller Says Central Bank Should Cut Rates by Next Meeting Amid Slowdown in GDP

Description

A member of the Federal Reserve Board of Governors says the central bank should slash interest rates by the next Federal Open Market Committee (FOMC) meeting, which is scheduled for July 29th. In a recent speech given at New York University, Fed Governor Christopher Waller provided three main reasons that the Fed Funds Rate should be reduced by 25 basis points (bps) immediately, rather than remain paused at 4.25% to 4.50%. The economist addresses tariffs, labor markets and a “host of data” that ...