Timiraos said, "Federal Reserve Governor Waller continues to maintain the most pessimistic stance among his colleagues on the U.S. Federal Open Market Committee (FOMC). Waller recently stated, 'I completely agree with the argument that we may need to start thinking about lowering the interest rate at the next meeting, because we don't want to wait until the labor market collapses to begin lowering the interest rate.' Waller hinted at the dynamics within the committee - based on current data, there is no support within the Federal Open Market Committee for lowering the interest rate in July. This raises the question: does it pave the way for 'raising objections in favor of lowering the interest rate' at the July meeting? Among those hoping to be nominated for the presidency of the Federal Reserve, Waller is perhaps the most theoretically profound so far in advocating for a rate cut.