According to PANews, Federal Reserve Governor Christopher Waller indicated that recent economic data allows policymakers to approach future rate cuts with less urgency than during last month's meeting. Speaking at the Hoover Institution in California, Waller emphasized in his prepared remarks that overall data suggests a more cautious pace for monetary policy adjustments compared to the September meeting. He added that if current economic conditions persist, policymakers could shift towards a neutral policy stance at a measured pace. A neutral policy rate neither stimulates nor restrains economic growth. Waller also noted that recent data, including upward revisions in economic growth and increased job vacancies, suggest the economic slowdown may not be as severe as anticipated. Additionally, Waller's baseline expectation is for a gradual reduction in rates next year. The Federal Reserve's next rate decision will be made at the conclusion of the FOMC meeting on November 6-7. During the Q&A session following his speech, Waller declined to provide specifics on the gradual pace of rate cuts.