Fed's Bullard: "I do want to take stock about how the accommodation we've put in place has had an impact"
Comments from the St Louis Fed President:
The full interview from Bullard with AFP is now out. Earlier Bullard told AFP that the FOMC should not react to a "tit-for-tat trade war."
- Fed has already 'done quite a bit' for economy
- Rates are "in the right neighbourhood" but will watch how economy reacts
- Will watch how economy reacts to trade war before deciding on next move
- Said he had 'penciled in' another rate cut for this year
The full interview is here.
One again, these aren't overtly dovish and they're coming from a big dove. Bullard isn't really at the core of the Fed but he sounds like he doesn't want to react to the latest tariffs.
He also spoke to the WSJ and made the same points. "I'm the most dovish member of the committee, so I do think we can afford to do more policy adjustments, but I do want to see what the impact is" of the Fed's recent moves, Bullard said.