In December, the policymakers collectively forecast that they would cut their rate three times this year.
The Fed prefers for inflation to be about 2%, which it sees as having little negative effect on the economy.
Fed officials, he added, will want to see further evidence that inflation is still on track to 2% before embarking on rate cuts.
Before Waller spoke, Wall Street investors had placed a 72% likelihood of a rate cut in March, based on futures prices.
Waller's comments followed similarly optimistic remarks from John Williams, president of the Federal Reserve Bank of New York, last week.
Persons:
Christopher Waller, ”, ” Waller, Waller, Krishna Guha, Waller's, ” Guha, John Williams, Williams, Powell's, ” Williams
Organizations:
WASHINGTON, Federal, Fed's, of Governors, Fed, Wall Street, Brookings Institution, “, Federal Reserve Bank of New
Locations:
Federal Reserve Bank of New York