Fed Governor Wall said on Friday that the "time has come" to start a series of interest rate cuts this month, and added that he is open to the size and speed of the rate cuts. "If the data supports consecutive rate cuts, then I think it's appropriate to have consecutive rate cuts. If the data indicates the need for a larger rate cut, then I will also support it." Two weeks ago, Federal Reserve Chairman Powell said at the annual global central bank meeting that given the progress in inflation and a cooling labor market, the "time has come" to ease policy. Wall used the same language, but his tone was stronger, suggesting that he is willing to start with a significant 50 basis point rate cut. Data released earlier on Friday showed an average monthly increase of 0.116 million new jobs over the past three months. Wall said that this data, along with recent other data, "reinforces the view of a continued slowdown in the labor market".