Fed's Barkin: Rate cuts, if needed, would stimulate the economy in many ways

In an interview with Bloomberg, Richmond Fed President Barkin said that rate cuts could stimulate the economy in many ways if needed. "Risks are tilted a bit more to the downside. Markets will adjust if rates end up not suggesting need for a cut," Barkin added.

The US Dollar Index continues to erase its daily losses and was last virtually unchanged on the day at 97.06. Below are some key quotes, per Reuters.

"Businesses are not cutting back on spending but they are not leaning forward"

"Consumer companies he talks to do not see demand weakening."

"Sees low likelihood of strong price hikes in the economy."

"Businesses are starting to think u.S. Tariffs on china may be long term."