Fed´s Bullard says rates are at the right level for now, open-minded toward next meeting
|Bullard also says the wanted to bring forward the March cut and that he keeps an open mind toward the upcoming meeting. He adds that the downside risks have worsened and that the Fed has taken out some insurance.
He adds that the coronavirus illness could be more severe and adds that the situation is fluid.
James Bullard is the President of the Sanit Louis branch of the Federal Reserve and is known for his dovish views.
The Fed slashed interest rates by 50 basis points on Tuesday in an unscheduled meeting. The bank has moved to mitigate the economic fallout from the coronavirus outbreak.
Bond markets are pricing another rate cut in its upcoming scheduled meeting on March 18, with growing chances of another double-dose cut of 50bp. The Fed begins its blackout period in three days During this time, the bank refrains from making any public announcements.
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