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2025-08-01 23:13:31
[Two Federal Reserve Board Governors Discuss Dissent: Central Bank's Hesitation to Cut Rates Could Hurt the Labor Market] Federal Reserve Board Governors Christopher Waller and Michelle Bowman expressed concern that the Fed's hesitation to cut interest rates could cause unnecessary damage to the labor market. Waller and Bowman opposed keeping the benchmark interest rate unchanged for the fifth consecutive time at this week's Federal Reserve interest rate meeting, both advocating a 25 basis point rate cut. The two officials explained the reasons for their dissent in separate statements released on Friday, highlighting signs of growing weakness in the labor market. Their views differ from those of Fed Chairman Jerome Powell and other officials, who continue to believe that the labor market is generally solid and advocate patience in adjusting interest rates so that officials can continue to assess how US President Donald Trump's tariff policy affects inflation and the economy.
