Fed Governor Waller backs December rate cut as support for weakening labor market

Federal Reserve Governor Christopher Waller on Monday voiced support for another interest rate cut at the central bank's December meeting, saying he's grown concerned over the labor market and the sharp slowdown in hiring.

In an increasingly divided Fed, Waller's comments put him squarely in the camp of those looking to ease monetary policy to head off further danger in the jobs picture. Others, including multiple regional presidents, have expressed opposition in recent days to more cuts as they view inflation as a persistent economic threat that could be reignited by additional easing.

"I am not worried about inflation accelerating or inflation expectations rising significantly," Waller said in prepared remarks delivered to a group of economists in London. "My focus is on the labor mark