Federal Reserve Governor Christopher Waller signalled firm support for another quarter-point interest-rate cut at the December 9–10 FOMC meeting, arguing that the U.S. labour market has lost momentum and the economy is slowing. Speaking in London, Waller said the “wealth of private and public-sector data” available during the 43-day government shutdown shows the job market “near stall speed,” with rising unemployment claims, more layoffs and no meaningful wage pressures.He said underlying inflation—stripping out the one-off impact of tariffs—is now close to the Fed’s 2% target and inflation expectations are stable. With growth cooling and consumer sentiment deteriorating, Waller warned that restrictive policy may be weighing disproportionately on lower- and middle-income households, especially given persistent affordability issues in housing and autos.While some Fed officials have argued for waiting for clearer data, Waller pushed back, saying the Fed is not “in a fog,” and that the available indicators paint a sufficiently actionable picture. He added that it is unlikely any upcoming data—including this week’s delayed September jobs report—would alter his view that additional easing is warranted.“A December cut will provide insurance against further labour-market weakening and bring policy closer to neutral,” he said.--I believe this is called motivated reasoning. Waller wants to be next Fed Chair, here he is finding a case for a rate cut, just like Trump wants. This article was written by Eamonn Sheridan at investinglive.com.