Federal Reserve governor Chris Waller said Wednesday that he still supports cutting interest rates this year, believing inflation will continue to drift lower despite promises of sweeping tariffs from the new Trump administration.

Federal Reserve Governor Chris Waller said Wednesday interest rates should continue to fall in 2025 as inflation cools further toward 2%, and tariffs aren't likely to have a lasting effect on that trend.

Federal Reserve governor Chris Waller reiterated his support for rate cuts this year, even though inflation is a worry. Despite new tariff threats from President Trump’s administration, Waller said on Wednesday that he was optimistic the inflation would continue to fall.

A top policymaker at the US Federal Reserve says that he still supports reducing interest rates this year, despite elevated inflation and the prospect of widespread tariffs