💨 Abstract

Federal Reserve official Christopher Waller suggested that the central bank should cut its key interest rate later this month due to signs of economic weakening, such as slowing consumer spending and cooling job gains. Waller believes that reducing borrowing costs could boost spending and growth, despite President Trump's tariffs temporarily lifting inflation. He has repeatedly advocated for a July rate cut, aligning with other Trump appointees like Michelle Bowman. Meanwhile, Chair Jerome Powell prefers to observe the impact of tariffs before making any moves.

Courtesy: WTOP Staff