"Fed megaphone": Waller did not explicitly mention the rate cut, pay attention to the "if" in the speech

On September 6th, "Federal Reserve mouthpiece" Nick Timiraos said in response to Waller's speech that Waller did not explicitly mention "25" or "50" basis point rate cuts in his speech, but preferred to start with 25 basis points, explicitly leaving open the option of accelerating interest rate cuts "as appropriate" if "new data" shows further deterioration . Waller said: "Based on the evidence I have seen, I do not think the economy is already in recession, nor is it necessarily headed for recession." < b > We should pay attention to those "if" in his speech: "'If' the data shows the need for deeper cuts, then I will also support it. When inflation accelerates in 2022, I strongly advocate for an early rate hike, and I would support an early rate cut'if 'appropriate. "" These decisions will be determined by new data. " (May not include today's data) " While I expect rate cuts to proceed cautiously as the economy and employment continue to grow, I stand ready to act quickly if necessary to support the economy in the context of stable inflation. "