Waller defends Fed's decision to cut by 50 bps
's decision to cut interest rates by 50 bps at its latest meeting during an interview that aired Friday morning on CNBC. He was the first Fed official to comment on the larger than usual rate cut since Chair Jerome Powell's press conference after the meeting ended.
Waller said recent inflation data pushed him in the direction of the larger rate cut. He noted that estimates suggest core PCE is running below target, and that is what pushed him"over the edge."
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