Fed Governor Waller: Private sector employment concerns drive calls for rate cuts

PANews reported on July 18 that according to Jinshi, Fed Governor Waller said that concerns about private sector hiring prompted him to call on the Fed to cut interest rates this month. "The private sector is not doing as well as everyone thought," Waller said in an interview on Friday. The June employment report released in early July showed that although the unemployment rate fell, private sector job growth slowed sharply and wage growth also slowed. However, Waller declined to say whether he would disagree if other policymakers decided not to cut interest rates when they meet in Washington on July 29-30.

In addition, Waller said that he would be happy to serve as the chairman of the Federal Reserve if Trump invited him, but no contact has been made yet.