美联储沃勒力挺9月降息25基点，非农恶化将考虑更大幅度

Core Viewpoint - Federal Reserve Governor Christopher Waller advocates for interest rate cuts, suggesting a 25 basis point reduction in September and further cuts in the next three to six months if economic data indicates significant weakness [6][7]. Group 1: Interest Rate Policy - Waller emphasizes the need for the Federal Open Market Committee (FOMC) to lower policy rates now, given core inflation nearing 2% and increasing risks in the labor market [6][7]. - He indicates that the pace of future rate cuts will depend on newly released economic data, particularly employment figures [7]. - Waller defines a more neutral stance for monetary policy as a reduction of 1.25 to 1.50 percentage points from the current policy rate range of 4.25%-4.50% [8]. Group 2: Labor Market Concerns - Waller expresses concerns about signs of weakening in the labor market, warning that the situation may deteriorate quickly [7]. - He argues that the FOMC should not wait for conditions to worsen before adjusting monetary policy, as this could lead to a lag in appropriate responses [7]. Group 3: Political Context - The article notes that Waller's comments come amid heightened pressure from President Trump for rate cuts, following a failed attempt to remove another Fed governor [7]. - Waller reiterates that the Fed should disregard temporary inflation impacts from tariffs, suggesting that these effects are not long-lasting [7].