According to a report from CoinWorld, Federal Reserve Board member Christopher J. Waller stated in a speech on July 17, 2025, that he supports a 25 basis point reduction in the federal funds rate at the next FOMC meeting. He believes that the U.S. economic growth has significantly slowed, with real GDP growth in the first half of 2025 expected to be around 1%, well below the long-term potential growth rate, and consumer spending is weak, with private sector employment nearly stagnant. He emphasized that the recent rise in inflation is primarily driven by tariffs and is a one-time shock, which is not expected to lead to an increase in inflation expectations or long-term inflationary pressures, and monetary policy should 'look through' such shocks. He stated that if economic and employment growth continues to be weak, he would support further interest rate cuts within the year.