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Kansas Federal Reserve President George said Wednesday that the U.S. economy faces "obvious" risks and that the Federal Reserve (Federal Reserve/FED) can take a wait-and-see attitude towards monetary policy.
"In the medium term, I think the biggest risk comes from slowing growth overseas, especially in China, the euro zone and the UK," George said in a speech in New York.
George said the fundamentals of the U.S. economy still look strong and job growth may rebound from February's weak performance.
Domestic factors, including the weakening effect of stimulus measures, also prompted Federal Reserve policymakers at last week's meeting to reduce the median economic growth forecast for 2019 to 2.1%, a percentage point lower than the growth rate of about 3% in 2018, she said.
"My view on the outlook is that economic growth will slow down to trend level, employment growth will slow down and inflation will be low," she said. "In such a situation, monetary policy can take a stand of observing its changes."
A possible slowdown has led many market participants to bet that the next move by the Federal Reserve will cut interest rates. In an interview with the New York Times on Tuesday, Stephen Moore, who was nominated by President Trump, said the Federal Reserve should not raise interest rates last September and December, but should reverse its course.

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