July 11, 2019 / 2:41 PM / 12 days ago

Fed's Barkin sees risks to U.S. economy: Bloomberg

FILE PHOTO: Federal Reserve Bank of Richmond President Thomas Barkin poses during a break at a Dallas Fed conference on technology in Dallas, Texas, U.S., May 23, 2019. REUTERS/Ann Saphir

(Reuters) - The risks to the U.S. economy are tilted a bit more to the downside, but there is still significant economic data that policymakers will see before deciding whether to cut rates, a Fed official said on Thursday.

Richmond Federal Reserve President Thomas Barkin said in an interview with Bloomberg News that rate cuts could be used to stimulate the economy in many ways, but did not say whether he would endorse such a move at this time.

He said his business contacts are not cutting their spending but they are not dramatically expanding their investments either.

Reporting by Trevor Hunnicutt

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