Fed member says rate cut is needed as trade war insurance
- Published on Jul 18, 2019
- The market widely expects the Federal Reserve to cut interest rates at its next meeting on July 31. But that's a month too late, according to St. Louis Federal Reserve president James Bullard.
Bullard, speaking in an exclusive interview with CNN's Julia Chatterley on the First Move show Thursday, said the Fed should cut rates now and do so one more time later this year -- mainly due to worries that a trade war with China, Europe and other parts of the world could hurt the US economy.
"Trade uncertainty used to be relatively low. This used to be an issue that was on the back burner," Bullard said. "The president moved it to the front burner. Now I think trade uncertainty is high and I don't see that declining anytime soon."
Read more here: www.cnn.com/2019/07/18/investing/james-bullard-st-louis-fed/index.html
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