“Because inflation is still up, we can take our time — there’s no rush to get down,” Waller said in a CNBC forum. “We just can steadily, kind of bring the policy rate down towards neutral.”
The remarks are the first by Waller since Fed officials delivered a third consecutive interest-rate reduction last week. The decision drew three dissents for the first time since 2019, and came from both sides of the policy spectrum — highlighting deep divisions in the committee. Policymakers also subtly altered the wording of their statement suggesting greater uncertainty about when they might cut rates again.
Waller, who is under consideration to be the next Fed chair, is expected to meet for an interview with President Donald Trump later on Wednesday. Asked about that, the Fed governor quipped that that’s what he’d heard.
He said he would defend the central bank’s independence against any political pressure from the White House.
See also: US home resales fall most in four years despite lower rates
“Absolutely. I spent 20 years of my life working on central bank independence and why it was important. There’s no doubt I’ve got a long paper trail of this,” Waller said.
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