Fed Governor Waller: If inflation falls below 2%, Fed can cut rates early
Fed Governor Waller said the Fed could cut rates earlier if inflation falls below 2%, which is unlikely, or if the labor market deteriorates. If inflation rises unexpectedly, the Fed may pause to cut rates. It also said that the latest inflation data were “disappointing” and that the economy is on solid footing and may not slow down as much as expected; GDP is expected to grow faster in the second half of 2024. Looking ahead, job growth is expected to slow and the unemployment rate to rise gradually but remain at historically low levels.
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