Fed’s Waller Backs Another Cut as Job Market Nears ‘Stall Speed’

Federal Reserve Governor Christopher Waller repeated his view that the central bank should again lower interest rates when policymakers meet in December, citing a weak labor market and monetary policy that is hurting low- and middle-income consumers.

In a speech titled ‘The Case for Continuing Rate Cuts’ delivered in London, Waller said another rate cut would represent good “risk management” by the rate-setting Federal Open Market Committee. He said he isn’t concerned about inflation accelerating or inflation expectations rising significantly given clear signs of softening demand for workers.

“With underlying inflation close to the FOMC’s target and evidence of a ...