Fed Governor Waller says we could see multiple rate cuts over the next several months

Monetary Policy Outlook - The speaker advocates for initiating rate cuts at the next meeting due to a softening labor market [1][4] - The speaker initially faced skepticism regarding the labor market's performance, but subsequent data validated concerns [2][3][4] - The speaker suggests the possibility of multiple rate cuts over the next 3 to 6 months, contingent on incoming data [5] - The speaker emphasizes that rate cuts do not need to follow a predetermined sequence [4] Labor Market Analysis - The speaker notes that the labor market's deterioration tends to be rapid and nonlinear [4] - Discrepancies existed between anecdotal evidence (no hiring, layoffs) and initial BLS (Bureau of Labor Statistics) data [2][3] - The speaker believed that initial BLS numbers were inaccurate, which was later confirmed [3][4] Inflation Concerns - The speaker is not personally concerned about tariff inflation, but acknowledges that it remains a widespread concern [5]