Federal Reserve Governor Christopher Waller said he continues to see a path to interest-rate cuts later this year amid his expectations that tariffs will boost unemployment and temporarily increase inflation.

Federal Reserve Board of Governors member Adriana D. Kugler offered a cautiously steady assessment of the U.S. economy Thursday in a speech to the Economic Club of New York, signaling a federal funds rate cut is unlikely for now,

Trump himself has repeatedly called for the Fed and Chair Jerome Powell to lower rates.  Waller stressed that a strong job market and progress on inflation through April offer additional time to see how trade negotiations play out and the economy evolves.