Fed governor calls for rate cut at September policy meeting

NEW YORK, Aug 29 (AFP): A governor of the US Federal Reserve, Christopher Waller, said Thursday that the central bank should lower its key interest rate at its upcoming monetary policy meeting.
"While I believe we should have cut in July, I am still hopeful that easing monetary policy at our next meeting can keep the labor market from deteriorating while returning inflation" to the goal of two percent, Waller said during a speech in Miami. "So, let's get on with it," he added.
Waller's enthusiasm echoes President Donald Trump's eagerness to cut the rate that is central to US banking and borrowing.
For months the Republican president has called for the cut repeatedly, despite resistance from current Fed chairman Jerome Powell.
The next Fed meeting is slated for September 16 and 17.