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7/18/2019, 3:40 PM (Source: TeleTrader)
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Fed's Bullard wants rate cut in July

St Louis Federal Reserve President James Bullard told CNN on Thursday that he believes the Fed should cut interest rates at its next meeting.

Bullard claimed such a move would be an "insurance" against an economic slowdown and added that two rate cuts from the central bank could shift the yield curve upward. He also warned that trade uncertainties have increased.

The administration of United States President Donald Trump has been calling on the Fed to lower rates for months, citing low inflation. The central bank decided to hold rates at its last meeting but Fed Chair Jerome Powell stated this week that the case for a rate cut has strengthened by rising uncertainties over trade and global growth.

Breaking the News / NP