Inflation might actually fall too far, the Fed governor says, opening the door wider for more half-point interest-rate cuts.

The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.

Federal Reserve officials, in their first public comments since the U.S. central bank cut interest rates by half a percentage point, laid out on Friday the depth of the debate over the move, with one governor saying inflation was now so weak the large reduction was needed and another arguing price pressures remain so strong a smaller cut would have been better.

Federal Reserve Governor Christopher Waller said favorable inflation data, and not worries about the labor market, are what convinced him to support policymakers’ decision to lower interest rates by a half percentage point this week.

U.S. Federal Reserve Governor Christopher Waller, one of the more ardent voices in the central bank's battle to hike interest rates to tame inflation, said he supported a larger rate cut this week because he is now worried the pace of price increases is undershooting the Fed's target.

Federal Reserve Governor Christopher Waller said Friday he backed a 50-basis-point interest-rate cut at this week's Federal Open Market Committee meeting, citing a steeper-than-expected decline in inflation.