US: Fed's Waller advocates for immediate interest rate cut
Christopher Waller, a governor of the US Federal Reserve, is pushing for an interest rate cut at the upcoming September 16-17 meeting.
He says lowering rates now could help protect jobs and move inflation closer to the Fed's 2% goal.
Waller even admitted he wishes they'd already made a cut back in July.
Waller's stance and potential Fed leadership implications
Waller's call lines up with Donald Trump's repeated demands for lower rates, though Fed Chair Jerome Powell isn't convinced.
Waller suggests any rate cut should be modest—no more than 0.25%.
He also says his view might change if the September 5 jobs report shows things are getting worse.
As someone seen as a possible future Fed leader, Waller indicated his decision could change depending on upcoming economic data, such as the September 5 jobs report.