October 3, 2019 / 8:35 AM / 12 days ago

Fed's Evans says modest U.S. adjustments not enough to offset potential shocks

MADRID, Oct 3 (Reuters) - Chicago Federal Reserve Bank President Charles Evans said on Thursday the U.S. economy was evolving above trend but recent “modest” monetary policy adjustments there would not be enough to offset potential external or other unexpected shocks to the world economy.

The Fed has cut rates twice this year as U.S. businesses were hit by rising trade tensions with China, political risk including Britain’s chaotic divorce from the European Union, and weakening economic growth in Germany and elsewhere.

“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, this is very much just risk management to help make things work out better as we thrive to bring in growth at about 2% (in the U.S.) over the next 18 months,” Evans told a conference in Madrid.

Reporting By Jesús Aguado and Jose Elias Rodriguez; editing by Andrei Khalip

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