Fed megaphone: Fed Governor Waller changes stance, remains open to rate cut in September

On July 17, Nick Timiraos, the “mouthpiece of the Federal Reserve”, said that Federal Reserve Governor Waller agreed with the recent remarks, suggesting that the Federal Reserve may cut interest rates as early as September to maximize the chances of the economy achieving soft landing. While I don’t think we’ve reached our ultimate goal, I do believe we’re getting closer to the moment when there is a reason to cut the policy Intrerest Rate, he said in a speech he is preparing to deliver in Kansas City on Wednesday. There was a significant shift in his speech from two months ago, when he hinted that the Fed did not need to cut interest rates until December. Now he is clearly open to a rate cut in September.