Federal Reserve Governor Chris Waller expressed confidence that the inflationary effects of tariffs are temporary and supports interest rate cuts this year. Waller noted that while some consumer surveys indicate rising inflation expectations, the labor market is not overheated, and workers lack the bargaining power to demand higher wages. He emphasized that workers are more concerned about job security than wage increases, suggesting that inflation pressures may not be as persistent. Consequently, Waller remains inclined to overlook tariff-induced inflation and advocate for rate reductions in 2025.