Monetary policy is still restrictive and putting downward pressure on inflation without creating undesirable weakness in the labor market, according to Federal Reserve Governor Christopher Waller, who added that he expects rate cuts to continue over the next year.
Details: Speaking in Washington, D.C., Waller said that based on the economic data in hand and forecasts that show that inflation will continue down toward the Fed’s 2% goal, he leans toward supporting a cut to the policy rate at the Federal Open Market Committee's Dec. 17-18 meeting.