Fed’s Waller says no rush to cut interest rates

Waiting game: Waller at an event in Washington earlier this month. He says recent data tells him it is prudent to hold rates where they are for longer than previously thought. — Bloomberg

New York: US Federal Reserve (Fed) governor Christopher Waller says there is no rush to lower interest rates, emphasising that recent economic data warrants delaying or reducing the number of cuts seen this year.

Waller called recent inflation figures “disappointing” and said he wants to see “at least a couple months of better inflation data” before cutting. He pointed to a strong economy and robust hiring as further reasons the Fed has room to wait to gain confidence that inflation is on a sustained path toward the 2% target.