Federal Reserve Governor Christopher Waller on Wednesday suggested that interest rate cuts are ahead soon as long as there are no major surprises on inflation and employment.
"So, while I don't believe we have reached our final destination, I do believe we are getting closer to the time when a cut in the policy rate is warranted."
Keeping with statements from other policymakers, Waller's sentiments point to an unlikelihood of a rate cut when the Federal Open Market Committee meets later this month, but a stronger likelihood of a move in September.
"Given that I believe the first two scenarios have the highest probability of occurring, I believe the time to lower the policy rate is drawing closer," Waller said.
Williams noted that inflation data is "all moving in the right direction and doing that pretty consistently" and is "getting us closer to a disinflationary trend that we're looking for."
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