July 10, 2019 / 6:54 PM / 12 days ago

Fed's Bullard, citing low inflation and trade, calls for rate cut

July 10 (Reuters) - St. Louis Federal Reserve President James Bullard called again on Wednesday for an interest-rate reduction to provide insurance against a sharper-than-expected slowdown in U.S. growth due to trade uncertainties and to boost stubbornly low inflation.

“I wouldn’t want to prejudge” whether the Fed will actually cut rates later this month, Bullard said at the OMFIF Foundation meeting in St. Louis. “Like with any insurance it could be that you don’t need the insurance” and further cuts would not be needed, he added; even so, he said, the quarter-point rate cut that he supports would be helpful because it would nudge inflation in the right direction.

Reporting by Ann Saphir Editing by Chizu Nomiyama

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