- Fed decision is good, looks like a sequence of three to year-end
- 75 bps of cuts by year-end would be significant
- Neutral rate is still fairly low, maybe 3.25%
- I would not have voted for 50 bps this week
- For doves, 25 this week and 25 in October is almost as good
Bullard is a former President of the Federal Reserve Bank of St. Louis. He's been generally leaning hawkish and this is also what transpires from these comments. He's one of the candidates for becoming the next Fed Chair when Powell's term expires in May 2026.
If Trump just wants a dove who's going to do whatever he asks, then I suspect Bullard is out of the race.
