Governor Christopher Waller says he still supports a December interest rate cut barring a surprise in the economic data
A top Federal Reserve official has warned the US central bank’s progress on curbing inflation “may be stalling”, even as he threw his support behind a cut in interest rates later this month. Christopher Waller, a Fed governor who sits on the policy-setting Federal Open Market Committee, on Monday said he backed the central bank lowering rates at its December 17-18 meeting.
Fed officials will on Friday receive an important update on the state of the labour market with November’s payrolls report, as well as new inflation data next week covering consumers and producers. Policymakers will also get fresh data on retail sales — a crucial driver of the US economy — on the first day of this month’s two-day policy meeting.
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