Fed’s Bullard: risks remain high, Fed on ‘meeting by meeting’ basis

FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore
FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar Su/File Photo

October 15, 2019

WASHINGTON (Reuters) – St. Louis Federal Reserve Bank President James Bullard said global trade and other risks remain high for a U.S. economy that may slow more sharply than expected.

As a result, the Fed “may choose to provide additional accommodation going forward, but decisions will be made on a meeting-by-meeting basis,” he said in prepared remarks to a London conference on Tuesday.

Bullard did not address in his prepared presentation the recent preliminary trade deal reached between the U.S. and China last week.

He dissented when the Fed reduced interest rates by a quarter of a percentage point at its September meeting, arguing for a deeper half a percentage point cut.

(Reporting by Howard Schneider; editing by Kim Coghill)

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