From CNBC: 2024-10-14 15:08:35

Federal Reserve Governor Christopher Waller hinted at less aggressive future interest rate cuts following a big move in September. Concerns about the economy running hot were cited, with data showing less slowdown than desired. The Fed cut rates by 50 basis points in September and may cut another full percentage point in 2025.

Key data points for the Fed were mixed, with the labor market improving in September, CPI slightly higher than expected, and strong GDP. The Commerce Department’s final revision for second-quarter growth showed a strong economy, with GDI gain adjusted to 3.4% and savings rate to 5.2%.

Read more: Fed Governor Waller sees need for ‘more caution’ ahead when lowering interest rates