--- title: "Federal Reserve Governor Waller: If non-farm payrolls are weak, I will vote to support a rate cut in March" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/276612101.md" description: "Federal Reserve Governor Waller stated that whether to support a rate cut in March will depend on the upcoming non-farm payroll data. If the labor market data is weak, he would support a 25 basis point cut. Waller voted against keeping interest rates unchanged in January, believing that a rate cut is necessary to address the weakness in the labor market. He pointed out that current economic data may contain noise, and future policy will rely on the assessment of the labor market" datetime: "2026-02-23T14:19:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276612101.md) - [en](https://longbridge.com/en/news/276612101.md) - [zh-HK](https://longbridge.com/zh-HK/news/276612101.md) --- > 支持的语言: [English](https://longbridge.com/en/news/276612101.md) | [繁體中文](https://longbridge.com/zh-HK/news/276612101.md) # Federal Reserve Governor Waller: If non-farm payrolls are weak, I will vote to support a rate cut in March According to the Zhitong Finance APP, Christopher Waller, a Federal Reserve governor with permanent voting rights on the Federal Open Market Committee (FOMC) monetary policy, stated that whether he will support a rate cut at the next Federal Reserve monetary policy meeting will depend on the upcoming non-farm labor market data. Waller indicated that if the February labor market statistics show that the downside risks to the labor market have diminished, as was the case in January, then it may be appropriate to maintain interest rates at the FOMC's next monetary policy meeting scheduled for March 17-18 Eastern Time. "However, if the positive labor market news from January is thoroughly revised downward, or if this positive growth trend essentially disappears in February, then this would support my position at the FOMC's last meeting where a rate cut was announced: that a 25 basis point reduction in the policy rate is appropriate and should continue at the March meeting," he stated in prepared remarks for an event hosted by the National Association for Business Economics in Washington on Monday. Waller voted against the Federal Reserve's decision to keep its benchmark policy rate unchanged in January, stating that given signs of weakness in the labor market, he preferred to lower the rate by 25 basis points. Subsequently, the U.S. government's January non-farm payroll report was much better than economists had generally expected, with the U.S. economy adding jobs at a robust pace and the unemployment rate declining. "Assuming core inflation continues to signal that we are close to the 2% target, the key to setting appropriate policy will depend on our view of the labor market," Waller said. "As for the current situation, I believe these two possible outcomes are almost a coin toss, 50/50." Waller expressed that he welcomes these positive statistics but is also concerned that they "may be more noise than signal," especially since the data revisions in the report also indicate that net job additions for the entire year of 2025 are nearly zero. He stated that this suggests a "weak" and persistently "fragile" non-farm labor market in 2025. The Bureau of Labor Statistics is set to release the February non-farm employment report on March 6 Eastern Time. Waller reiterated that when assessing inflation, he will continue to exclude the impact of the aggressive trade policies led by the Donald Trump administration. "I expect that the core inflation, which I refer to as inflation excluding tariff impacts, is close to the FOMC's 2% target," he stated. He also mentioned that the Supreme Court's ruling last Friday to overturn most of the reciprocal tariffs imposed by Trump under emergency powers is unlikely to significantly affect his views on how the Federal Reserve should shape its monetary policy path. It is understood that despite the much stronger-than-expected U.S. non-farm employment data in January, which led financial markets to reduce expectations for Federal Reserve rate cuts in 2026 from three to two, Wall Street hedge fund titan and Greenlight Capital founder David Einhorn predicts that the Federal Reserve will cut the benchmark rate "far more than twice" this year, stating that the market is seriously underestimating the pace of future monetary policy easing This top hedge fund manager on Wall Street believes that betting on the number of interest rate cuts exceeding current market expectations is "one of the best trading logics right now." In a media interview, Einhorn stated that the Federal Reserve "will inevitably cut rates, and by a much larger number than the market is pricing in." When asked how many rate cuts he expects from the Federal Reserve, Einhorn simply responded, "As you would expect, there will be many." Steven Major, a veteran on Wall Street and global macro strategy advisor from the well-known brokerage Tradition Dubai, recently stated in an interview that the Federal Reserve, led by Kevin Warsh, may lower the benchmark interest rate far beyond market expectations. Wall Street financial giant Goldman Sachs recently released a research report stating that it is incorrect to judge Warsh's policy orientation solely based on his hawkish remarks during his tenure as a Fed governor. The Goldman Sachs strategist team pointed out in the report: "In our view, at least being willing to cut rates is a prerequisite for him to get this job." ### 相关股票 - [Invesco QQQ Trust (QQQ.US)](https://longbridge.com/zh-CN/quote/QQQ.US.md) - [Fidelity MSCI Financials Index (FNCL.US)](https://longbridge.com/zh-CN/quote/FNCL.US.md) - [VG Financial (VFH.US)](https://longbridge.com/zh-CN/quote/VFH.US.md) - [ISHRS Us Brokers & Sec Exchg (IAI.US)](https://longbridge.com/zh-CN/quote/IAI.US.md) ## 相关资讯与研究 - [Black Rock Consolidates Voting Control Through Irrevocable Proxy](https://longbridge.com/zh-CN/news/279991780.md) - [Maridea Wealth Management LLC Decreases Stake in Invesco QQQ $QQQ](https://longbridge.com/zh-CN/news/280136428.md) - [Vimian Sets April 29 Date for 2026 AGM and Details Voting Procedures](https://longbridge.com/zh-CN/news/279739099.md) - [TETE Sets Vote on $1.1 Billion Bradbury Capital Business Combination](https://longbridge.com/zh-CN/news/280145613.md) - [Paushak Launches Postal Ballot, Seeks Shareholder Nod for Whole-Time Director](https://longbridge.com/zh-CN/news/279604379.md)