Chicago Fed President Charles Evans said that monetary policy is now “well-positioned” to wait-and-see how the economy respond to the two recent rate cuts. He also described the rate cuts as mid-cycle adjustments.
He maintained that the economy was “quite solid” even though there is a lot of uncertainty due to trade tensions. US is on a good growth path but not “outrageously” strong and it could continue “until something happens.
He also believed that solid economic fundamentals could go on indefinitely even though the shape of the yield curve was a concern.
