Fed Governor Waller urges caution for now, says rate cuts possible later in the year
By Jeff Cox
Published on March 20, 2026.
Federal Reserve Governor Christopher Waller has expressed caution about current economic conditions but still anticipates interest rate cuts later in the year. Waller, who was previously advocating for rate cuts, cited developments in the labor market and the uncertainty of the Iran war as reasons for his cautious approach. Despite markets anticipating rate reductions through the balance of 2026 and well into 2027, Waller's comments have led to a shift from expectations for two or three cuts this year. He also noted that the labor force is not expanding, leaving the unemployment rate unchanged, and warned that if things continue to improve, he would advocate for rate reductions.
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