但沃勒在巴黎经济合作与发展组织活动中反驳称：On Wednesday, the Federal Reserve's “Red Voting Committee” and Federal Reserve Governor Waller, who has had FOMC voting rights for a long time during his tenure, said he believes inflation will continue to move towards the central government...
On Wednesday, the Federal Reserve's “Red Voting Committee” and Federal Reserve Governor Waller, who has had FOMC voting rights for a long time, said that he believes inflation will continue to cool down, move towards the central bank's 2% target, and support further interest rate cuts this year.
Federal Reserve officials have cut interest rates for three consecutive meetings since September, but last month Federal Reserve Chairman Powell and several other officials said that there is no need to rush to implement further interest rate cuts. This cautious attitude is due in large part to continued concerns about inflation and an overall stable labor market. According to the futures market, it is almost impossible to cut interest rates at the upcoming January 28-29 meeting.
However, Waller countered at the Paris Organization for Economic Cooperation and Development event:
Recent little progress in inflation has led to calls for “a slowdown or cessation of lowering policy interest rates,” but I believe inflation will continue to move towards the 2% target in the medium term, and further interest rate cuts would be appropriate.
Waller further stated
As always, the extent of further easing will depend on how the data shows how inflation progresses, but my benchmark message is that I think more interest rate cuts would be appropriate.
If the outlook develops as I have described, I will support continuing to lower our policy interest rates in 2025. The pace of these interest rate cuts will depend on progress made on inflation while preventing the labor market from weakening.
In terms of the labor market and inflation, Waller believes that inflation will continue to move towards the 2% target, and there is no sign that the job market will weaken significantly anytime soon:
Reasons why inflation will continue to move towards the 2% target include a six-month potential inflation trend, better-than-expected November price data, and the role of estimated prices rather than directly observed prices in calculating a key inflation indicator.
The overall US economy has a “solid foundation”, and the employment situation is close to the Federal Reserve's goal of full employment. I don't see any signs in the data or forecast that the labor market will weaken significantly in the next few months.
Speaking about the impact of Trump's policies, Waller anticipates that tariffs will have no significant or lasting impact on inflation, and they are unlikely to influence his views on appropriate monetary policy.
