Federal Reserve Gov. Christopher Waller on Thursday called for the central bank to cut interest rates in July. Waller said

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Governor Christopher Waller's comments come as tensions between Fed Chair Jerome Powell and President Donald Trump have reached a boiling point in recent days.

Waller restated the case he first revealed in a Thursday speech that the Fed should cut when policymakers gather later this month, given data suggesting the US labour market is “on the edge.”

Some officials want a July cut to protect the labor market, while others want to wait because they anticipate more inflation coming.

A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts.

A Federal Reserve governor seen as a candidate to succeed Chair Jerome Powell laid out his strongest case yet for a rate cut this month, aligning himself with President Trump's demands that the central bank lower interest rates.

Stocks wavered amid earnings. President Donald Trump signed the stablecoins bill in a win for the crypto industry.

Fed Governor Waller discusses balance sheet challenges, QT into 2029, and risks to Fed independence. Read the implications for markets if Powell leaves the Fed.