Chicago Fed President Charles Evans insisted in a CNBC interview that the economy remains solid and interest rate is at the right place. He said “our current setting has been appropriate, but if we sense that there was some greater uncertainty, some softening, we’d have to take that into account and ask, are we getting in the way of the economy.”
While markets are betting on Fed rate cuts this year, Evans said they are “something that I haven’t yet seen in the national data.” In particular, he pointed out that consumption and employment continued to be strong, even though business investment as not as strong as he’d like.
