Fox Business Network By Reuters

WASHINGTON (Reuters) – Dallas Federal Reserve Bank President Robert Kaplan on Friday said he is not backing interest rate cuts until he sees clearer evidence the U.S. economy is in trouble.

“I don’t want to be cutting rates to do fine-tuning. I’d rather be adjusting policy if I thought there was some material deterioration,” Kaplan, who does not have a vote this year on interest rate policy decisions but participates in discussions at the U.S. central bank, said in an interview with Fox Business Network. “That’s why I want to take a little more time to see how events unfold.”