Chicago Fed President Charles Evans said “the U.S. economy continues to grow above trend … U.S. economic outlook is quite good, it still has strong fundamentals.” The two rate cuts this year were “modest adjustments” as “risk management to help make things work out better as we strive to bring in growth at about 2% over the next 18 months”.
He added that “if there is an event that shocks the world economy or the U.S. economy, these modest adjustments are not going to be nearly enough”.
