Fed's Waller says weak job market justifies rate cut in December

Core Viewpoint - The U.S. job market is showing signs of stagnation, prompting discussions for a potential interest rate cut by the Federal Reserve [1] Employment Data - State unemployment claims have risen slightly, indicating a potential weakening in the job market [1] - Layoff numbers are increasing, further suggesting a slowdown in employment growth [1] Wage Pressures - There is no evidence of building wage pressures, which typically influence inflation and monetary policy decisions [1] Federal Reserve Actions - Federal Reserve Governor Christopher Waller advocates for a quarter-percentage-point interest rate cut in response to the current economic indicators [1]