Governor Chris Waller Speech Thursday night was titled “The Case For Cutting Rates.” Among the reason he laid for why he will dissent at the July 30 FOMC meeting for a rate cut is this passage. —- But other data support the idea of a slowdown in hiring. There are widespread media reports of the difficulty new college graduates are encountering in finding jobs, and, in fact, the unemployment rate for new grads is at a 10-year high, far above the level before the pandemic. —- This subject was tackled in an excellent story in Yesterday’s Financial Times, detailed by its author in the thread below. The problem with recent college graduates unemployment rates rising is all in men’s rates rising while women’s rates are falling. Men oriented occupations are slowing hiring while women oriented job hirings have been booming. If this even a problem, it is absolutely NOT something that monetary policy can address. Why did Waller bring this up? Justifying a rate cut with an emotional, non-monetary policy argument? Which begs the question, why will he dissent? Maybe he answered it Friday in his Bloomberg interview: *WALLER: IF PRESIDENT ASKED ME TO DO FED CHAIR JOB I'D SAY YES