September 25, 2019 / 1:33 PM / 22 days ago

Evans says two rate cuts have Fed "well-positioned" at this point

CHICAGO, Sept 25 (Reuters) - Chicago Federal Reserve president Charles Evans said on Wednesday he backed the Fed’s two recent rate cuts but feels the central bank is now “well-positioned” to see how economic data evolves.

“A couple of rate cuts seemed useful,” to further the Fed’s 2 percent inflation goal and guard against risks of a slowdown, Evans said. Markets are betting the Fed will cut rates more this year, but after cutting rates twice this year officials have been reluctant to commit to further reductions. (Reporting by Howard Schneider; Editing by Chizu Nomiyama)

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