Federal Reserve Board of Governors member Christopher Waller said on Monday that he is leaning towards returning monetary policy to a more neutral stance.
"As of today, I am leaning toward continuing rate cuts," he said, "but I remain open to holding steady if new data suggests otherwise," he said in his latest speech at the American Institute for Economic Research Monetary Conference. During the same speech, Waller stressed that while progress has been made toward achieving the Fed's 2% inflation target, recent data suggests inflation may be stalling above target levels.
Waller acknowledged a strong labor market and moderated wage growth but emphasized mixed signals in inflation trends. He stated that the Fed's next steps hinge on key reports due this week, including job openings, employment, and inflation data.
