A member of the Federal Reserve Board of Governors, in a moment of sheer madness, declared the central bank must slash interest rates by the next FOMC meeting—because why not? 🧪
In a speech at NYU, Fed Governor Christopher Waller presented three reasons for a 25-bps cut, as if the economy were a circus and he’s the ringmaster with a broken whip. 🎪
He argued tariffs are “not as inflationary as most believe,” which is like saying a nuclear bomb isn’t as destructive as a candle. 🔥
Waller claims cutting rates now would “front-run” an economic slowdown, because nothing says “caution” like rushing headfirst into a cliff. 🚀
“I also believe – and I hope the case I have made is convincing…” – because nothing says “convincing” like a Fed official’s speech that’s more confusing than a Russian novel. 📖
“If the slowing of economic and employment growth were to accelerate…” – because who wouldn’t want a race against a ticking clock while juggling flaming torches? 🔥
“Cutting in July… would let us hold steady if data changes.” – because the Fed’s policy is as stable as a house of cards in a hurricane. 🌬️
Waller also predicts 1% GDP growth in 2025, which is less of a forecast and more of a eulogy for the American dream. 🕯️
“Real GDP growth will remain around 1%…” – because nothing says “optimism” like a 1% annual growth rate. 📉
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2025-07-20 19:07