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Financial News: St. Louis Fed's Bullard Says Rate Cut "May

St. Louis Fed's Bullard Says Rate Cut "May Be Warranted Soon"

06/03/2019 - 15:12:00 (RTTNews)

(RTTNews) - A reduction in interest rates "may be warranted soon" due in part to escalating global trade tensions, according to St. Louis Federal Reserve President James Bullard.

Bullard said that the Fed faces an economy that is expected to grow more slowly going forward and warned the slowdown could be sharper than expected due to ongoing global trade regime uncertainty.

"In addition, both inflation and inflation expectations remain below target, and signals from the Treasury yield curve seem to suggest that the current policy rate setting is inappropriately high," Bullard said in remarks to the Union League Club of Chicago on Monday.

He concluded, "A downward policy rate adjustment may be warranted soon to help re-center inflation and inflation expectations at target and also to provide some insurance in case of a sharper-than-expected slowdown."

President Donald Trump has been pushing the Fed to lower rates and Bullard's comments suggest igniting a global trade war may lead the central bank to grant the president's wish.

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