Fed Governor Christopher Waller said Friday that he doesn't expect tariffs to boost inflation significantly so policymakers should be looking to lower interest rates as early as next month.

Federal Reserve Governor Christopher Waller said the central bank can lower interest rates as soon as next month, reiterating his view that the inflation hit from tariffs is likely to be short-lived.

Fed Governor Calls for Rate Cuts as Soon as July Christopher J. Waller, who was appointed by President Trump, said the central bank should not wait for the labor market to weaken.

Federal Reserve officials diverged at their June meeting about how aggressively they would be willing to cut interest rates.

U.S. President Donald Trump says the Federal Reserve should set its benchmark interest rate at 1% to lower government borrowing costs, allowing the administration to finance the high and rising deficits expected from his spending and tax-cut bill.

Some investors have staked out positions in futures markets that will profit if interest rates drop immediately after Jerome Powell’s term as chair ends