Bullard Speaks with CNBC about U.S. Monetary Policy
September 25, 2019
St. Louis Fed President James Bullard explained why he preferred a larger policy rate cut at the Sept. 17-18 meeting of the Federal Open Market Committee than the majority of the FOMC did. “I think it’s prudent risk management at this juncture to take account of the downside risk to the U.S. economy, even though the economy overall is performing relatively well,” he said during a CNBC interview.
In addition, he discussed below-target inflation and inflation expectations, the potential economic impact of trade uncertainty, the signal from the shape of the U.S. yield curve, his preference to have a repo facility to complement the Fed’s existing reverse repo facility, and other topics.
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