Federal Reserve's Waller Advocates for Rate Cuts Amid Economic Concerns

According to BlockBeats, Nick Timiraos, known as the "Fed's mouthpiece," reported that Federal Reserve Governor Christopher Waller maintains the most dovish stance among his colleagues in the Federal Open Market Committee (FOMC). Waller recently expressed his support for considering policy rate cuts at the upcoming meeting, emphasizing the need to act before the labor market deteriorates. Waller's comments suggest internal dynamics within the committee, indicating a lack of support for a rate cut in July based on current data. This raises the question of whether he is laying the groundwork for dissent in favor of rate cuts at the July meeting. Among those aspiring to be nominated as Federal Reserve Chair, Waller has presented the most theoretically grounded argument for rate reductions so far.