In her prepared remarks delivered to an energy conference the regional bank was co-hosting with the Federal Reserve Bank of Dallas in Washington, Kansas City Fed Bank President Esther George said her outlook for the US economy does not call for a monetary policy response and argued that cutting rates as "insurance" risks overheating sectors that are performing well and encourages risk-taking and leverage.
The US Dollar Index failed to capitalize on these remarks and was last down 0.1% on the day at 97.47. Below are some additional takeaways, per Reuters.
"Corporate debt continues to rise to high levels and lower capital levels at the largest banks could be costly to employment and growth."
"Will remain attentive to incoming data for signs downside risks to the US economic outlook meaningfully materialize."
"US economy is generally performing well."
"Moderation of economic growth this year in line with her outlook."
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