Federal Reserve Governor Paul Waller advocates gradual rate cuts

Mr. Waller, the Fed governor, said officials could ease monetary policy gradually by cutting rates by 25 basis points at a time to support a weak labour market, while Mr. Milan continued to argue for deeper cuts. "You don't want to make mistakes, and the way to avoid them is to be careful - go down by 25 basis points, see what happens, and decide what to do next," Mr. Waller said on Thursday. Mr. Milan reiterated on the same day that a bigger 50 basis point cut should be taken, as trade tensions increased downside risks to the economy and necessitated faster monetary easing. "I think we have a good chance of three 25 basis point cuts this year," Mr. Milan said. Gold Ten)