Federal Reserve Governor Christopher Waller said monetary policy may now be “too tight” and signaled that the central bank could consider cutting interest rates at its July meeting. Speaking on 10 July, Waller reiterated his earlier view that an easing of policy would not be driven by political pressures. He noted that U.S. unemployment is hovering around its estimated long-run level, indicating the labor market has cooled without a sharp deterioration. Waller’s remarks strengthen market expectations that the Federal Open Market Committee could deliver its first rate reduction since the tightening cycle began, provided upcoming data confirm that inflation continues to move toward the Fed’s 2% target.