St Louis Fed president James Bullard still commenting in Singapore
- Now must decide whether or not to go further
- Fed keeping an eye on international developments
- Concerned in case it might feed back to the US economy
On the December meeting, Bullard commented that data is looking good but "let's see when the meeting comes around". As mentioned earlier, Fed funds futures have got a 75.6% probability of the Fed moving by another 25 bps in December. There hasn't been anything to suggest that the Fed will back off from that so far.
I would expect markets to price in almost fully a move in December once the November FOMC meeting clears, all things being equal as they are now.
