"Fed Messenger": Fed Governor Waller continues to maintain his most dovish stance

Nick Timiraos, the Fed's mouthpiece, said Mr. Waller, the Fed governor, continued to be the most dovish of his colleagues on the US FOMC. "I fully endorse the idea that maybe we should start thinking about cutting policy rates at the next meeting because we don't want to wait until the job market collapses to start cutting policy rates," Mr. Waller said last week. Mr. Waller hinted at the dynamics within the committee, which, based on current data, does not support a rate cut in July. This raises the question of whether he is setting the stage for a "dissent in favor of a rate cut" at the July meeting. Of those hoping to be nominated as Fed chairperson, Mr. Waller is perhaps the most sophisticated yet to make a case for a rate cut.