Federal Reserve Wind Vane Waller: Not in a hurry to cut interest rates, should cut rates later or less

On March 28th, as a recent indicator of Federal Reserve policy, Director Waller stated that there is currently no urgent need for a rate cut. He emphasized that recent disappointing inflation data suggests that this year's interest rate cut may be delayed or reduced. Waller said he hopes to see "at least a few months of improvement in inflation data" before lowering interest rates. He pointed out that a strong economy and employment are further reasons why the Federal Reserve has room to wait. In a pre prepared speech at the New York Economic Club on Wednesday, Waller said, "In my opinion, it is appropriate to reduce the total number of interest rate cuts or postpone them to the future based on recent data." He added, "I believe economic output and labor markets are showing sustained strength, while progress in reducing inflation has slowed down." "Given these signs, I believe there is no rush to take steps to start easing monetary policy." Waller used the term "no rush" four times in his speech, including in the title of the speech.