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Fed's Bullard says he doesn't see need for half-point rate cut - Bloomberg interview

Fed's Bullard says he doesn't see need for half-point rate cut - Bloomberg interview
FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar Su -
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Edgar Su(Reuters)
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WASHINGTON (Reuters) – St. Louis Federal Reserve Bank President James Bullard said on Tuesday he does not think the U.S. central bank needs to cut interest rates by a half point at its next meeting in July, even though he felt the Fed should have lowered rates last week.

“Just sitting here today, I think 50 basis points would be overdone,” Bullard said in an interview with Bloomberg Television. “I don’t think the situation really calls for that, but I would be willing to go 25 (basis points).”

(Reporting by Susan Heavey and Jason Lange; Writing by Tim Ahmann; Editing by Chizu Nomiyama)

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