Fed’s Waller warns U.S. job growth may have turned negative

Federal Reserve Governor Christopher Waller said the labor market is showing ‘clear signs of weakening,’ with the latest internal data suggesting payroll growth may have turned negative in recent months. He cautioned that a contracting job market poses the biggest risk to the soft-landing outlook and may justify a slower pace of balance-sheet tightening. Waller added that sustained disinflation allows more flexibility but urged data confirmation before major policy shifts. (Bloomberg Law)