MNI BRIEF: Waller Says Data Will Determine Fed Cut Pace

Federal Reserve Governor Christopher Waller said Thursday the pace of interest rate cuts will be determined by incoming economic data, but the direction lower to neutral is clear. 

"We know roughly where we're going towards neutral, but how fast we get there is gonna depend on the data that comes in," he said in Q&A at an event with the Economic Club of Miami. "It's not a set sequence. It's not 25, 25. That's what I mean by the data. The data will kind of determine how fast we go. It could be a sequence of cuts. It may be a couple, that you may want to pause if the data is coming in an odd way." (See: MNI POLICY: Fed Takes Measured Approach To Post-September Cuts) 

"We know we want to head towards neutral. It's just a question, how fast we get there," Waller said.