The Federal Reserve should consider cutting interest rates at its next meeting given recent tame inflation data and the fact that any price shock from import tariffs will be short-lived, Federal Reserve Governor Christopher Waller said on Friday.

Christopher Waller, who serves on the Federal Reserve’s Board of Governors, said Friday the central bank should deliver interest rate cuts as soon as July, echoing President Donald Trump’s demands for lower borrowing costs.

Federal Reserve governor Christopher Waller said the central bank could be positioned to cut interest rates at its next meeting in July, notwithstanding potential inflation pressures caused by new tariffs.