Federal Reserve Governor Waller stated on Wednesday that, given concerns about a weak labor market, there is still room for the Federal Reserve to cut interest rates. Waller said, "I still believe we may be 50 to 100 basis points away from neutral rates." This means the Federal Reserve still has room to cut rates. Waller stated that, given the current economic outlook, "there is no need to rush to cut rates," and in an economic environment where inflation may trend moderate, "we can gradually bring rates down to neutral levels."