Comments from KC Fed President George:
- US economy is generally performing well
- Moderation in economy this year is in line with outlook
- Not sure that monetary policy is the appropriate tool to offset weakness in manufacturing and business investment
- She is mindful that rate cuts could increase financial instability which Fed has limited ability to counteract
- Corporate debt continues to rise to high levels and lower capital levels at largest banks could be costly to employment and growth
- She will remain attentive to incoming data for signs of downside risks to the US economy
George is a hawk but she doesn't sound like she's frothing at the mouth to stop a cut at the end of the month.
