off-the-wire

Fed's Waller says monetary policy still in restrictive territory, Fed has room to cut

Kitco Media
By Reuters
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Updated:
Reuters
Fed's Waller says monetary policy still in restrictive territory, Fed has room to cut teaser image

NEW YORK, Dec 17 (Reuters) - Federal Reserve Governor Christopher Waller said Wednesday that the U.S. central bank still has room to cut interest rates amid concerns that the job market has softened.

“I still think we're probably, you know, maybe we're 50 to 100 basis points off of neutral," which means the Fed still has room to cut interest rates, Waller said at the Yale School of Management CEO Summit in New York.

Given the outlook, "there's no rush to get down" on interest rates, Waller said, and "we just can steadily, kind of bring the policy rate down towards neutral" amid what's likely to be an economy with moderating inflation.

Reporting by Michael S. Derby; Editing by Andrew Heavens

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