Comments by St Louis Fed president James Bullard doing the rounds

  • Fed bordering on "going too far" and pushing economy into a recession
  • If economy unexpectedly weakens, would be open to rate cuts
  • Fed has done enough hikes to preempt any potential inflation rise
  • Bond market continues to warn Fed policy is too tight
  • Expects economy to moderate to 2.25% to 2.50% growth this year
  • Not worried about asset markets, more volatility is a return to normal
  • Says that markets have predicted Fed policy better than officials themselves

Looks like we all know who's not going to be voting on any rate hikes this year in the FOMC meetings. Not like it was ever a surprise as Bullard is the most dovish member on this year's voting board.

His comments here are very much in-line with what you'd expect to hear and it keeps in tone with the dovish stance by Fed speakers as of late. Later on in the day, we'll still be hearing from Fed's Bostic, Evans, and Rosengren before the FOMC meeting minutes is released.