Central Banks
Waller Says Fed Getting ‘Closer’ to Cutting Rates, Not There Yet
- Paying close attention to job market with soft landing in view
- Waller outlines scenarios that could impact path of rates
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Federal Reserve Governor Christopher Waller said the economy is getting closer to a point where the central bank can reduce borrowing costs but indicated he’d like to see a “bit more evidence” inflation is on a sustained downward path.
“Current data are consistent with achieving a soft landing, and I will be looking for data over the next couple months to buttress this view,” Waller said in prepared remarks Wednesday at the Kansas City Fed. “While I don’t believe we have reached our final destination, I do believe we are getting closer to the time when a cut in the policy rate is warranted.”