While speaking to students at an energy conference run by Rice University’s Rice School of Business in Houston on Friday, Robert Kaplan, president of the Federal Reserve Bank of Dallas, explained that he supported this week’s rate cut “contingent on signalling no further rate cuts for the time being.”
“In September I had expected no further rate cuts until 2020 but was willing to go along this week,” Kaplan said. “I’m still vigilant on the outlook, concerned about business spending. After three rate cuts, the Fed should now stand back, let the economy unfold, be patient.”
These comments did little to nothing to help the US Dollar Index recover from its lows. As of writing, the index was down 0.15% on the day at 97.18.
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