Fed Governor Christopher Waller told Bloomberg that even without the official employment data, the available evidence points to a clear slowdown in hiring across the U.S. economy. He noted that private and survey-based indicators have been consistent in signaling weaker labor demand, reinforcing the view that the job market is losing momentum.
Waller argued that this backdrop supports the case for the Fed to continue with measured 25bps rate cuts, emphasizing caution amid high uncertainty.
“We don’t know which way this is going to break,” he said. “If the labor market rebounds, there is less pressure to cut rates—you don’t want to make a mistake.”
