WASHINGTON: A top contender to lead the US Federal Reserve has backed a quarter-point rate cut later this month, saying inflation is easing and attention should shift to the weakening labour market. Fed Governor Christopher Waller said on Thursday (Oct 16) that with inflation close to the bank’s target, the focus should now be on slowing job growth and signs that employment may already be contracting. “Tariffs have modest effects on inflation, but with underlying inflation close to our goal and

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