Fed's Bullard: A 25 bps rate cut this month would be appropriate, USD picks up bid

Dhwani Mehta FXStreet

St. Louis Federal Reserve President James Bullard was on the wires last minutes, via WSJ, noting that a 25bps rate cut this month would be appropriate.

He said that he sees no need for larger rate cuts.

"I would have preferred to just go ahead at the last meeting, and then we would have gotten out of this argument about whether we're going to do 50 basis points at the meeting and we would have been able to come into the July meeting and ask if more was needed or not," Bullard said.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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