Federal Reserve Governor Christopher Waller said recent economic data shows the Fed should ease more cautiously after last month's jumbo rate cut.

A key voter on the Federal Reserve said the surprising strength of the economy suggests the central bank should “proceed with more caution” in cutting U.S. interest rates to make sure inflation doesn’t reignite.

Citing recent data showing an uptick in inflation and a U.S. economy and labor market that are stronger than previously thought, Federal Reserve Governor Christopher Waller on Monday called for "more caution" on interest-rate cuts ahead.