Chicago Fed president says no more rate cuts necessary through 2020 because America's 'growth outlook is good'

markets.businessinsider.com | 10/16/2019 | Staff
Chicago Fed President Charles Evans voted in favor of the September interest rate cut but doesn't see the need for additional stimulus through the end of 2020, according to his prepared remarks for a Wednesday speech in Peoria, Illinois.

The central bank's "policy probably is in a good place right now" and the nation's "growth outlook is good," he said.

Evans - Statements - Wall - Street - Analysts

Evans' statements clash with many Wall Street analysts who have already priced in additional rate cuts in 2019, with some expecting the Federal Open Market Committee to cut the benchmark rate when it meets October 29.

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Chicago - Fed - President - Charles - Evans

Chicago Fed President Charles Evans finds the last two interest rate cuts "appropriate," but doesn't see the need for additional cuts through the end of 2020.

The central bank official voted in favor of the September 18 interest rate cut, but said "policy probably is in a good place right now" during a Wednesday speech in Peoria, Illinois.

Forecast - Federal - Open - Market - Committee

The median forecast for Federal Open Market Committee members was for no more cuts through the end of 2020. Evans called his assessment "pretty much in line" with that outlook, which calls for one 25-basis-point cut in 2021 and another in 2022.

The nation's "growth outlook is good" and the central bank has policy prepared should inflation rise above desired levels, Evans said.

Evans - Sentiments

Evans' sentiments clash with many...
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