Governor Christopher Waller's comments come as tensions between Fed Chair Jerome Powell and President Donald Trump have reached a boiling point in recent days.

A top official at the Federal Reserve on Thursday reiterated his call for an interest rate cut later this month, despite data showing ongoing resilience in the US economy and other central bankers pushing to keep rates steady.

Federal Reserve governor Christopher Waller, a Trump appointee from the president’s first term and a contender to succeed Jerome Powell as chair, said he would accept the top job if offered. “If \[Trump\] says ‘Chris,

Federal Reserve Governor Christopher Waller says, "the private sector is not doing as well as everybody thinks it is," as he makes the case for the Fed to lower borrowing costs before the labor market begins to deteriorate.