Federal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its time relaxing monetary policy.
"When the time is right to begin lowering rates, I believe it can and should be lowered methodically and carefully," he added.
"In many previous cycles ... the FOMC cut rates reactively and did so quickly and often by large amounts.
I see no reason to move as quickly or cut as rapidly as in the past."
In fact, traders had further ramped up expectations for 2024 to seven cuts, but brought it back to six following Waller's remarks.
Persons:
Christopher Waller, Waller
Organizations:
Federal, Washington , D.C, Brookings Institution
Locations:
Washington ,