Fed’s Bullard Says a Rate Cut May Be Needed ‘Soon’

• Bond investors are positioned for at least two Federal Reserve rate cuts by the end of the year.
• St. Louis Fed President James Bullard says a cut may be needed soon to counter trade-war risks. Vice Chairman Richard Clarida said the bank is prepared to ease if needed.
• It’s no wonder then that today’s opening remarks by Chair Jerome Powell at a policy conference in Chicago, due at 9:55 a.m. Eastern Time, will be very closely watched for any pushback against the rising consensus.

(Source: Bloomberg)