“But, by the same token, the committee can be patient, so they’ll wait for additional inflation reports to go through the North American summer here. Then they’ll make a decision at that point,” he adds.
James Bullard, former CEO and 12th president of the Federal Reserve Bank of St. Louis, “likes” the market estimate of between one and two rate cuts so far.
“This latest inflation report did bring September back into play,” he says, adding that the latest inflation numbers went in the favour of those who were hoping for an earlier move by the US Federal Reserve. Bullard was speaking with Tan Min Lan, head of UBS’s chief investment office in Asia Pacific (APAC), at UBS’s mid-year outlook on June 21. He was the former CEO and president of the Federal Reserve Bank of St. Louis from 2008 till 2023 before joining the school of business at Purdue University.
