Christopher Waller, a potential contender to be the next chair of the central bank, said the Federal Reserve should not wait for the labor market to weaken to reduce interest rates.

Federal Reserve Gov. Christopher Waller on Thursday called for the central bank to cut interest rates in July. Waller said

Federal Reserve governor Christopher Waller made his strongest call yet for a rate cut in July as he again argued that any inflation from tariffs would be temporary, underscoring a new divide within the central bank.