Federal Reserve Governor Waller supports interest rate cuts in July: This has nothing to do with politics.

Federal Reserve Governor Waller stated on Thursday local time that even if the June employment data is strong, the Federal Reserve should still consider lowering interest rates at the July policy meeting. During the Q&A session following his speech at the Dallas Federal Reserve, he emphasized, "I have made my point clear - the current policy interest rate level is too high, and we can discuss lowering the benchmark interest rate in July." He believes that inflation has significantly cooled down, the job market is stabilizing, and the recent price increases caused by tariffs are limited to specific goods. He said, "When inflation is declining, we do not need to maintain such a tight policy stance, this is the logical decision that the central bank should make." What is special about Waller's statement is not only the timing - the latest employment data just showed a strong labor market - but also because he is seen as a leading candidate for the next Federal Reserve chairman. President Trump has criticized Powell many times and urged him to resign early, while Waller is seen as a potential successor due to his dovish stance. However, Waller made it clear on Thursday, "Although I am in the minority, I have clearly demonstrated the feasibility of lowering interest rates with economic logic. This has nothing to do with politics."