By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Governor Christopher Waller said on Thursday he continues to believe that the U.S. central bank should cut its interest rate target at the end of the month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures.

Christopher Waller, a potential contender to be the next chair of the central bank, said the Federal Reserve should not wait for the labor market to weaken to reduce interest rates.

Some officials want a July cut to protect the labor market, while others want to wait because they anticipate more inflation coming.