Federal Reserve Governor Waller: Time to cut interest rates "getting closer"

Federal Reserve Governor Paul Waller said on Wednesday that the time for the Fed to cut interest rates was "getting closer", but uncertainty about the direction of the economy made it unclear when rates might be cut. "I believe the current data is consistent with achieving a'soft landing 'and I will look for data to support that view in the coming months," Waller said. "While I don't think we have reached our end goal, I do believe we are getting closer to the point where there is a case for lowering policy rates," he said. Mr. Waller noted that economic growth was now advancing at a "more moderate pace", with a more balanced job market and moderating inflation.