Former Fed’s Bullard Sees September Rate Cut

Former St. Louis Federal Reserve President James Bullard said he expects the US central bank to lower its benchmark interest rate at the Federal Open Market Committee’s meeting in September. In a televised interview, Bullard described the policy minutes published earlier today as “stale,” arguing that economic conditions have evolved since they were compiled. Bullard added that he remains “pretty bullish” on the US economy, citing the momentum created by ongoing deregulation. The latest FOMC minutes showed no shift in the committee’s stance, but investors are watching incoming data for confirmation of Bullard’s view that easier policy is approaching.