New Delhi, April 17 -- The Trump administration spent months demanding the Federal Reserve cut interest rates. This week, two people with close ties to the White House said waiting to move makes some sense.

Federal Reserve Governor Stephen Miran, speaking at an economic forum in Washington, D.C., said Thursday he is reconsidering his rate cut outlook for the year, trimming his projection from four cuts to potentially three and acknowledging the inflation picture had become more complicated even before war with Iran began.

The remarks came just days after Treasury Secretary Scott Bessent also took a slight turn from his earlier stance on monetary policy.

Cuts should come eventually, Bessent said at a Washington conference, but waiting f...