The Federal Reserve should consider cutting interest rates at its next meeting given recent tame inflation data and the fact that any price shock from import tariffs will be short lived, Fed governor Chris Waller said on Friday.

Christopher Waller, who serves on the Federal Reserve’s Board of Governors, said Friday the central bank should deliver interest rate cuts as soon as July, echoing President Donald Trump’s demands for lower borrowing costs.

Fed Governor Waller suggested a July rate cut is possible, sparking optimism across crypto markets and investor circles.