Odaily News Governor Waller, who is the recent bellwether for Fed policy, said there is currently no sign of an urgent need to cut interest rates. He stressed that recent disappointing inflation data suggested that rate cuts this year may be delayed or reduced. Waller said he wanted to see at least a few months of better inflation data before cutting interest rates. He pointed to a strong economy and employment as further reasons why the Fed has room to wait. In my view, based on recent data, it would be appropriate to reduce the overall number of rate cuts or postpone them into the future, Waller said in prepared remarks Wednesday at the Economic Club of New York. He added: I think the economy Output and the labor market have shown continued strength, while progress in lowering inflation has slowed. Given these signs, I believe there is no rush to take steps to begin easing monetary policy. Waller used the word no rush four times in his speech ( no rush was included in the title of the speech. (Golden Ten)