Comments from Evans
- Economy really "quite solid"
- There is a lot of uncertainty due to trade
- We are on a good growth path, not "outrageously" strong
- Strong economy can continue "until something happens"
- Feels markets are incorporating uncertainty and nervousness in current bond pricing
- Shape of yield curve is a concern but feels good economic fundamentals could go on indefinitely
- Fed needs to be on-guard but not trying to overcome risks that have not yet materialized
- Calls it a mid-cycle adjustment
- Fed well positioned now to see how things play out
I'm was looking for a hint about when he thinks the Fed should cut next -- Oct or Dec. Instead, I got a hint that he might not want to cut at all. It sounds like he won't be supporting a cut unless the data turn lower between now and the end of October.
