The Fed is not expected to cut interest rates at the conclusion of their next meeting on March 19, but there may be clues to the timing of the next cut.

Federal Reserve Governor Christopher Waller said on Thursday he leans strongly against a rate cut at the Fed's upcoming policy meeting this month, although he reckons cuts later in the year remain on track if inflation pressures continue to abate.

Investor sentiment has turned gloomier this week, but even if no economic downturn materializes, progress on inflation should allow the Fed to continue cutting interest rates, Waller said.

The Federal Reserve should hold interest rates steady at its policy meeting in two weeks and wait to see if the signs of softening in the economy multiply or turn out to be a head fake, Fed governor Christopher Waller said on Thursday.

Federal Reserve Governor Christopher Waller said he wouldn’t support lowering interest rates in March, but sees room to cut two, or possibly three, times this year.