March 4, 2020 / 10:53 PM / a month ago

Fed's Bullard: Not much more data coming to warrant rate cut at March meeting

ST. LOUIS, March 4 (Reuters) - The U.S. Federal Reserve will not have much additional information in hand at its March 17-18 meeting to justify an additional interest rate cut beyond the 0.5 percentage point emergency reduction approved this week, St. Louis Federal Reserve President James Bullard said on Wednesday.

“I don’t want to prejudge what will happen at the March meeting,” he said, speaking before an academic lecture sponsored by the St. Louis Fed. “But we are not going to have a lot of information that is new.” In deciding on the appropriate size of the emergency cut, Bullard said, “We made the best judgment we could,” adding that he felt the Fed was now “positioned for a fairly large outbreak...across a large swath” of the country. (Reporting by Howard Schneider Editing by Leslie Adler)

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