Two Fed governors say there is no need for rapid rate cuts

Cook and Waller call for caution but welcome some labour market developments

Federal Reserve
The Federal Reserve

Two Federal Reserve Board governors both said there was no need for rapid change to US monetary policy in recent speeches.

The Fed still needed to take a “cautious approach” to easing policy, governor Lisa Cook said on March 25. There was “no rush” for the Federal Open Market Committee to cut rates, her colleague Christopher Waller said two days later.

“The risks to achieving our employment and inflation goals are moving into better balance,” said Cook. “Nonetheless, fully restoring price

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