Fed's Waller, leaning against March cut, sees easings later in year

Federal Reserve Governor Christopher Waller said on Thursday he leans strongly against a rate cut at the Fed's upcoming policy meeting this month, although he reckons cuts later in the year remain on track if inflation pressures continue to abate.

In discounting an easing at March 18-19 Federal Open Market Committee, Waller indicated he simply will not have the inflation data in hand to know whether cutting what's now a 4.25% to 4.5% federal funds rate range is justified, especially amid the heavy uncertainty created by President Donald Trump's trade agenda.

«I want to see what happens with the February inflation data. Want to see a little bit more with what happens with tariff policies,» Waller said at a Wall Street Journal event.

When it comes to price pressures, «if you think it's moving backwards target, you can start lowering rates, I wouldn't say, at the next meeting,» but at some point after that, the Fed official said.

Longer-term, Waller said the monetary policy outlook offered by officials at their December meeting still looks plausible. Noting projections of two cuts this year and next, he said «I don't think there's anything wrong with that kind of number,» even if the actual outcome is slightly different.

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