US borrowing costs should be as much as a percentage point lower, according to Federal Reserve governor Christopher Waller, ahead of an interview with President Donald Trump to be the next chair of the country’s central bank.
Waller, a top Fed official and the leading internal candidate to lead the central bank, warned that American jobs growth was now “close to zero” and said interest rates should be lowered “at a moderate pace” next year to support a waning labour market.
“We’re close to zero jobs growth — now that’s not a healthy labour market,” he told the Yale CEO Summit on Wednesday.
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