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.
