Federal Reserve Governor Christopher Waller said the economy is getting closer to a point where the central bank can reduce borrowing costs but indicated he’d like to see a “bit more evidence” inflation is on a sustained downward path.

“Current data are consistent with achieving a soft landing, and I will be looking for data over the next couple months to buttress this view,” Mr Waller said in prepared remarks Wednesday at the Kansas City Fed. “While I don’t believe we have reached our final destination, I do believe we are getting closer to the time when a cut in the policy rate is warranted.”

Bloomberg