TechFlow news, December 17 — According to Jinshi News, Christopher Waller, one of the final candidates for the next Federal Reserve chair and a current Fed governor, said on Wednesday that the current labor market is "very soft" and job growth "not encouraging," indicating there is still room for the Fed to cut interest rates. He supports further rate cuts to bring the central bank's policy rate back toward neutral levels, though he added that policymakers don't need to rush this process.
He expressed strong confidence in stable inflation expectations and dismissed concerns that price pressures might accelerate again. When asked by a CNBC reporter whether he would emphasize the Fed's independence during a meeting with Trump, Waller replied, "Absolutely."
Trump has frequently commented on the Fed's decisions, accusing it of cutting rates too slowly. He has harshly criticized Jerome Powell, his own appointee as current Fed chair, and has publicly considered firing Powell before his term ends.
Appointed by Trump and confirmed by the Senate in late 2020 to join the Federal Reserve Board, Waller has emerged this year as one of the most vocal advocates for rate cuts within the Fed. The Fed has cut rates by 25 basis points at each of its past three meetings. Earlier, Waller cast a dissenting vote in July urging rate cuts, but at that time policymakers chose to hold rates steady.
