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In the last week of Fedspeak before the January blackout period, Waller continued to signal openness to more cuts in 2025 and optimism about the inflationary trajectory.
Waller supports more rate cuts, isn't worried about tariffs.
The further slowing we were worried about last month, particularly in the prime-age employment rate, did not materialize. This sets back expectations for earlier and more rate cuts this year, but it’s certainly a good report for anyone concerned about the left tail of labor market risk.
A light week of Fedspeak heading into the New Year.
