Fed’s Waller urges July rate cut, dismisses tariff impact
Fed Governor Waller has called for a 25bps rate cut at the July Federal Open Market Committee’s (FOMC) meeting, citing slowing economic momentum and rising risks to employment. He downplayed Trump's tariffs as a "one-time boost" to inflation, predicting only a temporary rise in PCE. Waller supports further cuts this year to return to a neutral stance, as inflation nears the Fed's target.