St. Louis Fed President James Bullard told CNBC on Wednesday that he thinks the central bank should continue cutting interest rates.
St. Louis Fed President James Bullard told CNBC on Wednesday that he thinks the central bank should continue cutting interest rates, with his preference one more quarter-point move lower by the end of the year
"We've made a big move," he said during an interview on "Closing Bell." "I think we probably have a little bit more to go here." Bullard was one of three voting members on the Federal Open Market Committee to dissent from last week's decision to cut overnight lending rates by 25 basis points. The others, Esther George of Kansas City and Eric Rosengren of Boston, voted no because they felt the Fed should have held the line.
That was the second time this year that the committee approved a rate cut, and Bullard thinks one more would be appropriate. "I think it would have been better to go a little further at this last meeting than the majority of the committee wanted to go," he added.
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