Bullard speaks to reporters

  • If the Fed meeting were today or tomorrow, would support 25 basis point rate cut
  • a 50 basis point cut would be overdone at this point. Need only a modest move
  • he has penciled in a 2nd rate cut by years end, but would depend on economy
  • Trumps picked for Fed, St. Louis Fed's Waller, holds views that are close to his own
  • Says Waller will be his own person, if he is nominated, confirmed for Fed board post
  • rate cut would act as insurance against sharper economic downturn, low inflation