Fed governor breaks ranks with Powell, signals rate cuts could begin next month
1. Fed keeps interest rates at 4.25%-4.5% for four meetings. 2. Governor Waller suggests rate cuts could begin as early as July. 3. Labor market is at or near maximum employment, with inflation above 2%. 4. Market sees 61.8% chance of a rate cut in September. 5. President Trump criticizes Fed's slow response to economic uncertainty.