Fed can now keep rates on hold, senior official says

Recent cuts have provided greater assurance Fed will hit inflation target, Charles Evans says

Dollar balloon

US monetary policy is at the right level to lift inflation to target, a regional Federal Reserve president has said, hinting no further cuts are needed in the next meeting.

The Federal Reserve has reduced rates by 50 basis points over its last two monetary policy meetings in September and July. The target range for the federal funds rate is currently 1.75–2%.

Federal Reserve Bank of Chicago president Charles Evans said the reductions were appropriate given the deterioration of economic outlook

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