Christopher Waller, a potential contender to be the next chair of the central bank, said the Federal Reserve should not wait for the labor market to weaken to reduce interest rates.

Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures.

Fed Chairman Jerome Powell defends the central bank's $2.5 billion renovation project against Trump administration criticism

One Fed paper found LLMs have a surprisingly good understanding of the economic topics discussed in the Fed’s minutes, while another looked at using machine learning to forecast financial crises, Cook said.

"It doesn't occur to me in the slightest that there would be any situation in which I would not complete my term other than dying," Powell said in 2019.

The Federal Open Market Committee meets again on July 29-30 & the consensus expectation is that Committee will once again hold target Fed funds rate at current range of 4-4.25%.

By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Governor Chris Waller, an advocate for an immediate interest rate cut, said on Friday he would accept the job as head of the U.S. central bank if asked by President Donald Trump,