“Since that meeting, economic data have strengthened the argument of so-called doves who favor rate cuts because job growth in May and June was revised lower.”
A handful of officials have lined up with Waller and Bowman indicating they could favor cutting rates at the Fed's next meeting, Sept. 16-17. They have suggested that a slower-than-expected pass-through of tariff hikes to consumer prices should quiet worries about higher import costs creating a new inflation shock.