Waller backs 25 bps rate cut in October amid labor market softness

Fed Governor Christopher Waller voiced support for a 25-basis-point rate cut at the FOMC meeting later in October, citing mixed labor data and signs of weakening job growth. He noted that while inflation remains near target, the divergence between soft hiring and firm output strengthens the case for more accommodative policy. Waller added that any further easing beyond October will depend on incoming data. His stance mirrors growing expectations of gradual rate cuts ahead in the U.S. monetary cycle.