St. Louis Fed Pres. Bullard speaking on monetary policy and the economy

  • not seeing yield curve inversion intensifying so far
  • May need more policy action but past moves are being felt
  • inflation pressures remain muted
  • Fed policy considerably more accommodative versus late 2018
  • trade developments chilling global investment, growth
  • Fed can't react to day-to-day trade negotiations
  • does not expect trade uncertainty to dissipate quickly
  • there is a risk that trade uncertainty may slow US economy more than expected
  • further rate action may be desirable, but economy still adjusting the Fed's shift as of early this year from raising rates to lowering them
  • monetary policy considerably looser today than versus late last year

Bullard has been traditionally known as a dove. However, he has moved more in line with the concensus of late. He is a voting member of the FOMC.