Comments from Bullard

  • We have already adjusted for trade uncertainty
  • Don't see a recession on the horizon
  • Does not see conditions that would warrant a half-point cut all at once
  • Appreciated for Fed Chairs speaking on independence
  • Fed is making decisions the way it always has, despite political 'buzz'
  • Fed should not react to short-term market moves
  • Doesn't regard recent policy moves in Chinese currency as evidence of a change in the country's foreign exchange policy

This is not the kind of thing you want to hear if you're long bonds.