Washington: The US Federal Reserve is aiming to lower its policy interest rate in December, an official said Monday. Speaking at an event, Christopher Waller, a member of the Federal Reserve Board of Governors, noted that inflation in the country is continuing on a downward path to 2% over the medium term. "I lean toward supporting a cut to the policy rate at our December meeting," he added. Waller emphasized that the decision to cut will depend on upcoming figures. According to Anadolu Agency, last month, the Fed reduced interest rates by 25 basis points to a range of 4.5% to 4.75%. This move was the second rate cut by the central bank in four years, since the beginning of the coronavirus pandemic. In September, the bank lowered rates by 50 basis points, exceeding expectations. The annual inflation rate was at 2.6% in October and 2.4% in September. The recent trends in inflation appear to support the case for a potential rate cut, as the Federal Reserve aims to maintain price stability and support economic growth.