Federal Reserve Governor Waller hopes to cut interest rates but suggests there is no need to rush.

Federal Reserve Governor Christopher Waller supports further interest rate cuts to bring rates back to neutral levels, but also suggests that policymakers do not need to rush. Waller said on Wednesday that given the scenario of inflation continuing to slow until 2026, the current monetary policy interest rate level is as much as 100 basis points higher than the neutral rate. The neutral rate refers to a level at which the Federal Reserve neither restrains growth nor pushes inflation higher. "Because inflation is still relatively high, we can take our time - there's no need to rush to cut rates," Waller said at a CNBC forum. "We can gradually move policy rates towards neutral levels." This is Waller's first remarks since the Federal Reserve cut rates for the third consecutive time last week.