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Fed members say monetary policy makers are monitoring the impact of the rate cut

UNITED STATES, WASHINGTON (OBSERVATORY) — The US central bank is monitoring the impact of last month’s rate cut, a member of the Federal Reserve’s monetary policy-making committee said on Wednesday, adding that the domestic economy appeared strong despite a fall in investment and weakness abroad.

“The national economy looks great,” Richmond Fed President Thomas Parkin said in written comments.

“Despite this, international economies are weaker and uncertainty, especially around trade, is high,” he said, adding that corporate investment declined in the second quarter.

Barken did not say whether he supported further rate cuts, a repeated request by US President Donald Trump from the independent central bank.

Barken called the Fed rate cut in July aimed at ensuring continued growth in the economy and a strong labor market.

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