Member of the Federal Reserve Board of Governors Christopher Waller voiced on Wednesday his support for additional reductions in the United States central bank's interest rate in 2025, stressing his certainty inflation will go down to its target of 2%.
Speaking at an Organization for Economic Cooperation and Development event in Paris, Waller insisted the prices will decrease even though "progress appears to have stalled in the final months of 2024," which he attributed to the rise in the costs of housing and nonmarket services. Still, he acknowledged the inflationary risks that could be caused by geopolitical crises and US President-elect Donald Trump's prospective tariffs on certain foreign goods.
"We must closely monitor economic and financial conditions and look in every direction, and down the road, for emerging risks. In keeping to our mandates, we concede that seeing all these risks clearly is hard, so we need to remain focused," he concluded.
