Kansas City Fed's Esther George says the July rate cut was not needed

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Kansas City Fed's Esther George says the July rate cut was not needed
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'My sense was we've added accommodation and it wasn't required in my view,' George tells CNBC's Steve Liesman.

The U.S. central bank cut rates as China and the U.S. remain engaged in a trade war while economic activity outside of the U.S. slows down. These dynamics have raised worries about the U.S. falling into a recession.

George said in the interview she thinks risks are currently tilted to the downside. "As you look at global growth weakening and as you look at the amount of uncertainty associated with some of these trade issues, I think both of those are weighing on the outlook. Whether they spill over in a way that we see in the real economy is what I'm watching for."

She added the ongoing trade war, which started last year, is impacting business investment in the U.S.

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