Exact Timing of Rate Cut ‘Doesn’t Matter,’ Says Fed Governor Christopher Waller

Federal Reserve officials have been coy about when they will agree to cut interest rates. The financial markets expect the U.S. central bank to pull the trigger on the first rate cut at the September policy meeting. But one monetary policymaker thinks the precise timing of when the institution will pivot doesn’t matter a whole lot. Speaking at an event by the Federal Reserve Bank of Kansas City on July 17, Fed Governor Christopher Waller said that whether the monetary authorities pivot in September or December “doesn’t matter” from a macroeconomic perspective unless there is an enormous shock to the U.S. economy in the next few months, which, he notes, is unlikely....