According to PANews, Federal Reserve Board Governor Waller said that recent economic data shows that policymakers may not need to be as urgent as in last month's meeting when dealing with subsequent interest rate cuts.
Waller told a conference at the Hoover Institution in Stanford, California, that the overall data suggested monetary policy should be more cautious in the pace of rate cuts than it was at its September meeting.
He added that if current economic conditions persist, "we can move policy toward a neutral stance at a measured pace." The neutral policy rate is one that neither boosts nor suppresses economic growth.
Waller, whose base case is for gradual rate cuts next year, also said recent data - including an upward revision to growth and an increase in job openings - suggested the economy may not be slowing as much as expected.
The Fed will make its next rate decision at the end of its FOMC meeting on Nov. 6-7. Waller declined to provide details on the "gradual" pace of rate cuts during the question-and-answer session.