Governor Christopher Waller says he still supports a December interest rate cut barring a surprise in the economic data
by Colby Smith
FT
Christopher Waller, a Fed governor who sits on the policy-setting Federal Open Market Committee, on Monday said he backed the central bank lowering rates at its December 17-18 meeting. He said still-elevated borrowing costs were curbing demand across the world’s biggest economy, contributing to easing price pressures.
Still, Waller noted that “if the data we receive between today and the next meeting surprise in a way that suggests our forecasts of slowing inflation and a moderating but still-solid economy are wrong, then I will be supportive of holding the policy rate [unchanged in December]”.