Christopher Waller, a potential contender to be the next chair of the central bank, said the Federal Reserve should not wait for the labor market to weaken to reduce interest rates.

Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures.

Federal Reserve Governor Christopher Waller on Thursday laid out the argument he is going to make in two weeks to his central bank colleagues — cut interest rates now because the labor market is weaker than you think,