June 28, 2019 / 1:39 PM / a year ago

Fed's Kaplan isn't ready to cut interest rates: Fox Business Network

FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan poses at a luncheon in El Paso, Texas, U.S., October 2, 2018. REUTERS/Ann Saphir

WASHINGTON (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan on Friday said he is not backing interest rate cuts until he sees clearer evidence the U.S. economy is in trouble.

“I don’t want to be cutting rates to do fine-tuning. I’d rather be adjusting policy if I thought there was some material deterioration,” Kaplan, who does not have a vote this year on interest rate policy decisions but participates in discussions at the U.S. central bank, said in an interview with Fox Business Network. “That’s why I want to take a little more time to see how events unfold.”

Reporting by Jason Lange; Editing by Chizu Nomiyama

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