Exact Timing of Rate Cut ‘Doesn’t Matter,’ Fed Gov. Christopher Waller Says

Fed governor says achieving the central bank’s dual mandate is what matters.

WASHINGTON, DC - FEBRUARY 13: Christopher Waller testifies before the Senate Banking, Housing and Urban Affairs Committee during a hearing on their nomination to be member-designate on the Federal Reserve Board of Governors on February 13, 2020 in Washington, DC. Photo by Sarah Silbiger/Getty Images

Federal Reserve officials have been coy about when they will agree to cut interest rates.

The financial markets expect the U.S. central bank to pull the trigger on the first rate cut at the September policy meeting. But one monetary policymaker thinks the precise timing of when the institution will pivot doesn’t matter a whole lot.