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Story summary
- Federal Reserve Governor Christopher Waller dissented against a 25 basis point rate cut, arguing the federal funds rate should be closer to 3% rather than 3.50–3.75%.
- Waller cited a weak labor market despite growth and warned last year’s payroll data may be revised.
- Waller said keeping rates higher would prevent further economic weakness.
- Inflation remains elevated due to tariffs, though the underlying trend is positive and tariffs-excluded inflation nears the 2% target.
