TechFlow news, on August 1, according to Jinshi Data, Federal Reserve Governors Waller and Bowman expressed concerns that policymakers' hesitation on cutting interest rates could cause unnecessary harm to the labor market. In this week's Fed decision to hold the benchmark rate steady for the fifth consecutive time, both Waller and Bowman cast dissenting votes, favoring a 25-basis-point rate cut. In separate statements issued Friday, both explained their opposition, highlighting signs of weakness in the labor market. Their views contrast with those of Powell and other policymakers, who maintain that the labor market remains broadly solid and support patience in adjusting rates. Waller said: “I believe this current wait-and-see approach is overly cautious and, in my view, does not properly balance the risks to the economic outlook, potentially causing policy to fall behind the curve.” He noted that downside risks to the labor market are rising, considering future data revisions and stagnant private-sector job growth. Bowman stated, “Labor market momentum is weakening and showing increasing signs of fragility.”
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