Federal Reserve Governor Christopher Waller said Friday he backed a 50-basis-point interest-rate cut at this week's Federal Open Market Committee meeting, citing a steeper-than-expected decline in inflation.

The Federal Reserve will begin a rate-cutting path, as soon as Sept. 18. Inflation and the economy remain hot topics in the presidential election.

The paltry CPI report means the Fed will likely only cut interest rates by a quarter percentage point. Wall Street, for whatever reason, isn't cheery.

The U.S. public's outlook for inflationary pressures was little changed last month amid an ongoing retreat in current price pressures, according to a report released on Monday by the New York Federal Reserve.

Federal Reserve Governor Christopher Waller said favorable inflation data, and not worries about the labor market, are what convinced him to support policymakers’ decision to lower interest rates by a half percentage point this week.

We’re at a point where the economy is strong, inflation is coming down, and we want to keep it that way,” Waller said during an interview with CNBC on Friday. Waller has se

U.S. Federal Reserve Governor Christopher Waller, one of the more ardent voices in the central bank's battle to hike interest rates to tame inflation, said he supported a larger rate cut this week because he is now worried the pace of price increases is undershooting the Fed's target.