US Fed official says expects series of rate cuts

Federal Reserve Governor Christopher Waller signaled the likelihood of a series of interest rate cuts in the coming months, citing easing inflation and a cooling labor market. He expects the first cut at the upcoming September meeting, with more to follow. The comments came after a US jobs report showed slowing job creation. Waller emphasized that while the labor market has cooled, the economy isn’t necessarily heading for a recession. New York Fed President John Williams also supported reducing the restrictiveness of monetary policy.READ FULL