A top Federal Reserve official has backed more interest rate cuts, but called for the central bank to proceed “with care” as it tries to judge whether or not the US labour market is in the throes of a downturn.
Chris Waller, a Fed governor and leading candidate to replace Jay Powell as Fed chair next year, gave a clear indication that he would vote for lower rates at the US central bank’s meetings in late October.
Waller said in New York on Thursday that he supported “continued easing of monetary policy from its current setting”.
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