Federal Reserve Gov. Christopher Waller on Thursday called for the central bank to cut interest rates in July. Waller said

Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to boost a job market that looks to be weakening.

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Governor Christopher Waller said on Thursday he continues to believe that the U.S. central bank should cut its interest rate target at the end of the month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures.

Christopher Waller, a potential contender to be the next chair of the central bank, said the Federal Reserve should not wait for the labor market to weaken to reduce interest rates.

Federal Reserve Governor Christopher Waller on Thursday laid out the argument he is going to make in two weeks to his central bank colleagues — cut interest rates now because the labor market is weaker than you think,

The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs.

Right now, inflation is still hovering just above the Federal Reserve’s target and data is mixed. That’s why Fed Chair Jerome Powell is keeping rates steady, despite public calls for action

Some officials want a July cut to protect the labor market, while others want to wait because they anticipate more inflation coming.

Federal Reserve Governor Christopher Waller said on Thursday (Jul 17) he continues to believe the US central bank should cut interest rates at the end of this month amid mounting risks to the economy

Fed officials will gather July 29-30 in Washington. Waller’s remarks set him apart from most of his fellow policymakers, who have characterized the employment landscape as still solid.