Recent data has shown that the U.S. Federal Reserve could hold off on cutting short-term interest rates in the face of rising productivity results, according to Chris Waller, a leading figure and Fed Reserve governor.

Waller would speak about the state of play of the U.S. financial market at the Economic Club of New York, titled “There’s still no rush.”

READ MORE: Fed’s Waller see’s no need to rush into interest rate cuts amid rising productivity