Fed President: Rate Cuts 'Not a One-and-Done,' Multiple Cuts Seen Next Year

IconCryptoNewsTerminal Staff02 Aug, 2024

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Fed President: Rate Cuts 'Not a One-and-Done,' Multiple Cuts Seen Next Year

Chicago Fed President: Rate Cuts 'Not a One-and-Done,' Multiple Cuts Seen Next Year The Federal Reserve Bank of Chicago President Charles Evans said the Fed will not be "data-dependent in a mechanical way" and will base decisions on the timing and size of interest rate cuts on economic conditions. If the case for rate cuts is made, "it's not a one-and-done," he said. Fed policymakers anticipate multiple cuts next year. "In a week when the employment data surprised on the soft side, the task of the Fed is to try to see through the noise of the data and act in a patient manner," he said.

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