MNI BRIEF: Fed's Waller Supports December Rate Cut

Federal Reserve Governor Christopher Waller on Friday said the central bank should continue to ease interest rates at its next meeting in December. 

"I'm still advocating that we cut interest rates in December," Waller told Larry Kudlow in an interview on Fox Business. He said inflation expectations are anchored and the data supports a cut. He added that a clouded outlook doesn't mean that the central bank should sit still. “This fog story has got to stop. You have to keep driving.” (See: MNI INTERVIEW: More Fed Cuts Risk Inflation Spike-Weinberg) 

Waller is a leading candidate to serve as the next Fed chair. "If the President asked me, I will serve. He asked me once before, and I said yes. If he'd ask me again, I'll say yes again," he said.