By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Vice Chair for Supervision Michelle Bowman, recently tapped by President Trump as the central bank’s top bank overseer, said Monday the time to cut interest rates may be fast approaching as she is growing more worried about risks to the job market and is less concerned tariffs will cause an inflation problem.

Waller, speaking Friday in a CNBC interview, also backed a July cut, citing signs of labour market softening. “We don’t want to wait until the job market tanks before we start cutting,” he said, pointing to rising unemployment among recent college graduates.

Federal Reserve Governor Michelle Bowman said Monday she would favor an interest rate cut at the next policy meeting in July so long as inflation pressures stay muted