Fed Governor Christopher Waller said Wednesday that the Fed is in no rush to cut interest rates, given the current outlook, according to Reuters.

Key points:

"The job market is very weak, job growth is not good right now."

"The Fed's rate cuts have helped the job market."

"2026 could be a better year for the economy, hopefully, that helps the job market."

"Inflation is above target but should come down in the next few months."

"Inflation expectations are under control."

"We don't know yet what AI will do to the job market."

"There won't be a reacceleration of inflation."

"The job market suggests the Fed should continue to cut rates."

"We don't see a drastic deterioration in the job market."

"The Fed can move at a moderate pace; there's no need for dramatic action."

"The Fed is 50 to 100 basis points above neutral."

"I think inflation will come down."

"It's hard to say that interest rates are causing the weakening job market."

"There's nothing wrong with the interaction between the Fed and the government."

"The Fed can cut interest rates based solely on a moderate inflation outlook."

"The Fed's new asset purchases are not stimulus." (alg)

Source: FXstreet