Archive · 18 Nov 2025
Fed's Waller Pushes for Rate Cut Despite 'Foggy' Data
A person in charge of the U.S. money supply, Mr. Waller, thinks the job market is not doing well, even though we can't see the full picture because of a recent government shutdown.
He wants to lower the cost of borrowing money to help the economy, even if we don't have all the information.
Some of his colleagues think we should wait until we have more clear data, but Mr. Waller disagrees.
He's worried that not helping the economy now might hurt lower- and middle-income people.
The group in charge of money supply will meet soon to decide what to do.
Christopher Waller, a Fed governor, argues for another rate cut in December despite the recent government shutdown delaying key economic data.
Waller believes the job market is weak and near stall speed, with no signs of increasing wage pressures or inflation acceleration.
He considers the available private and public data sufficient for decision-making, rejecting the 'fog' analogy used by some colleagues.
Waller is concerned about restrictive monetary policy's impact on lower- and middle-income consumers and the economy's growth.
The Fed is set to meet on December 9-10 to discuss interest rates.
- Who
- Christopher Waller, Federal Reserve, U.S. economy, lower- and middle-income consumers
- What
- Argue for another interest rate cut in December despite data uncertainty
- When
- December 9-10, 2019
- Where
- United States
- Why
- Weak job market, potential economic slowdown, and concern for lower-income consumers
Caution with Data
Prioritize Growth
Monetary Policy Stance
Caution with Data
Jerome Powell, Fed Chair, emphasizes driving slowly through a foggy night, implying caution due to economic uncertainty and data reliability issues.
Prioritize Growth
Christopher Waller argues that driving slowly doesn't mean halting, suggesting excessive caution can hinder growth by making decisions too data-dependent.
- Next Fed Meeting
- December 9-10, 2019
- Delayed Economic Data
- September jobs report and other key indicators due to government shutdown
- U.S. Unemployment Rate (September 2019)
- 3.5%
- U.S. Inflation Rate (September 2019)
- 1.7% (Core PCE)
