St. Louis Fed President James Bullard said Tuesday the U.S. central bank can't be expected to react to every twist and turn of a trade war. The Fed "can't realistically move monetary policy in a tit-for-tat trade war," Bullard said, in an interview with Agence France Press.
Traders on Monday increased the odds of a half-point rate cut at the Fed's September meeting as bond yields TMUBMUSD10Y, +3.15% tumbled. Bullard said the Fed has already done "quite a bit" to help cushion the economy from the uncertainty generated by the trade tension. The St. Louis Fed president voted in favor of the central bank's decision to cut its benchmark interest rate by a quarter-point last week. He said he has one more rate cut "penciled in" for this year.
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