Fed Governor Waller Supports Interest Rate Cut at September Meeting, Open to Further Reductions
Federal Reserve Governor Christopher Waller expressed support for an interest rate cut at the upcoming Central bank policy meeting, indicating a willingness for a substantial reduction if necessary. In prepared remarks for the Council on Foreign Relations, Waller stated that the time has come to lower the federal funds rate target range. This aligns with recent calls from other policymakers for easing monetary policy soon, with Waller echoing Fed Chair Jerome Powell’s sentiments about the need for adjustments. Waller emphasized being open-minded about the size and pace of rate cuts, with a potential for more aggressive moves if data suggests the need. Following a weaker-than-expected nonfarm payrolls report, speculation has increased about the likelihood of a quarter percentage point rate reduction this month, with the possibility of additional cuts later in the year. Waller suggested that a series of reductions may be appropriate to support the labor market and achieve a soft landing.
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Lucas Bennett, completed his Finance degree at Bocconi University in Italy in 2018. He is highly skilled in corporate finance and risk management, beginning his career at a hedge fund in Milan. Lucas expertise extends to consulting for leading European firms, particularly within the energy markets sector. His analytical skills and strategic mindset have made him a sought-after consultant, and he continues to explore new opportunities within the financial services industry across Europe.