BlockBeats News, October 10th, Federal Reserve Governor Waller stated that the labor market may have shifted to negative growth in the past few months, and the labor market is now his biggest concern. Waller said, “Employment growth may have been negative in the past few months. The labor market is very weak, which is a key point of policy and something we need to understand.” The September non-farm payroll report, which was originally scheduled to be released last week, was delayed due to the government shutdown. Waller, appointed by U.S. President Trump in 2020 as a Federal Reserve Governor and currently a frontrunner to succeed Powell as Federal Reserve Chair when Powell’s term expires in May next year, stated that his interview process has progressed smoothly, focusing on serious economic issues with “no political factors.” Waller also expressed his desire to continue cutting interest rates but emphasized that policymakers should remain cautious. (FXStreet)
