Former St. Louis Fed President Bullard recommends Fed cut rates in March

According to Jinshi, former St. Louis Fed President James Bullard said recently that the Fed should cut interest rates at its next meeting in March to prevent its policy stance from excessively suppressing economic activity later this year. Bullard was once a major advocate of rapid rate hikes and warned last summer that further rate hikes were necessary. But now he believes that rate cuts make sense because inflation has fallen below 3% and is moving toward the 2% target. He suggested that the Fed act earlier but at a slower pace.