Another Federal Reserve official hinted that interest rate cuts are imminent: Waiting too long to act poses a risk of recession.

Chicago Fed President Charles Evans said that the actual federal funds rate has tightened significantly and the economy is not overheating, so this restriction is not needed; the Fed may need to cut interest rates quickly to avoid further deterioration in the labor market. Dallas Fed President Robert Kaplan did not mention monetary policy, stating that the crisis triggered by Silicon Valley Bank last year shows that the current federal deposit insurance limit may be too low, and the last time the limit was raised was in 2008.

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Express News | Major Indexes Are Lower Amid Recent Weakness in Tech Stocks

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