Federal Reserve Governor Christopher Waller just made the case for cutting interest rates at the Federal Open Market Committee’s July meeting.
What Happened: On Thursday, speaking at the Money Marketeers of New York University, Waller said, “I believe that the Federal Open Market Committee (FOMC) should reduce our policy rate by 25 basis points at our next meeting.”
Waller pointed to a string of recent economic data to make his case. “Real gross domestic product (GDP) growth was likely around 1 percent in the first half of this year and is expected to remain soft for the rest of 2025,” he said.
He also believes consumer spending “is expected to continue to grow at a similar pace, tempered by the expected slowing in growth of real disposable income,” while framing labor market trends as …