Fed’s Evans: Total of 50 basis points rate cut appropriate by year’s end

Chicago Fed President Charles Evans, who earlier today warned against the potential negative impact of slowing foreign growth on the U.S. economy, crossed the wires again in the last minutes, arguing that the timing of rate cuts were not critical but added that a total of 50 basis points reduction in rates  by the end of the year would be appropriate.  

The US Dollar Index’s reaction to these comments was muted and it was last down 0.13% on a daily basis at 96.93.