Fed's Bullard: Manufacturing being affected by global trade war

Eren Sengezer FXStreet

Additional comments from St. Louis Fed President Bullard, who earlier argued against a 50 basis points rate cut in July saying he would support a 25 basis points cut, continue to cross the wires as he speaks in an interview with Bloomberg TV.

"The U.S. manufacturing sector is being affected by the global trade war," Bullard said and added that he hoped that the Fed's policy action will straight out the yield curve.

Now markets are waiting for FOMC Chairman Powell to deliver his speech on the monetary policy at 17 GMT. Meanwhile, the US Dollar Index is up 0.2% on the day at 96.20.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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