Fed's Bullard: Trade, other risks, mean rate cut may be 'warranted soon'
CHICAGO/NEW YORK - A Federal Reserve policymaker on Monday said that a rate cut may be needed “soon,” the strongest signal yet that the central bank may change course as trade tensions threaten the U.S. economy.
To date, and in the face of increasing disbelief by investors, Fed officials have said they saw no need to change rates from current 2.25%-2.50% levels even as some policymakers sketched out increasingly plausible scenarios where they might support a cut. Data on Monday showed factory activity slowing in the United States, Europe and Asia last month, as stalling trade negotiations between Washington and Beijing weighed on manufacturers and raised the specter of recession.
San Francisco Fed President Mary Daly, speaking earlier on Monday in Singapore, said she is still taking a patient approach on rates until economic data and trade talks provide more clarity on the growth outlook.
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