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FED: Not much react to Chicago Fed Pres Evans` comments; clearly one of the
FOMC's doves but sounding relatively patient given the circumstances. From our
reporter in Chicago:
- Evans repeated comments that he made in June that two rate cuts this year
would be needed to bring inflation to his projection of 2% or a little faster.
Evans said there was already a case earlier this year for 50 basis points of
accommodation based just on inflation undershooting the Fed's target, and policy
makers now need time to assess the impact of new trade tensions. "Fifty basis
points of accommodation is a better setting. Is it enough? I won't know until we
look at the data and have those discussions."