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

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.

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

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.”

Federal Reserve Governor Christopher Waller said on Friday that unemployment in the private sector is the reason he may recommend a rate cut in the July Federal Reserve meeting. “The headline numbers for the labour market that we’re seeing are okay.

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 top official at the Federal Reserve on Thursday reiterated his call for an interest rate cut later this month, despite data showing ongoing resilience in the US economy and other central bankers pushing to keep rates steady.