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 Gov. Christopher Waller said that the central bank could cut interest rates as early as July, arguing that inflation under tariffs wouldn't likely be a problem.