The Federal Funds Target Range Reduction By 50 Basis Points Would Have Been A More Appropriate Action
from the St Louis Fed
– this post authored by James Bullard, President and CEO, Federal Reserve Bank of St. Louis
The following is a statement by Federal Reserve Bank of St. Louis President Jim Bullard explaining his dissenting vote at the FOMC’s Sept. 17-18, 2019, meeting:
I dissented with the Federal Open Market Committee (FOMC) decision announced on Sept. 18, 2019, to lower the target range for the federal funds rate by 25 basis points to 1.75%-2.00%. In my view, lowering the target range by 50 basis points to 1.50%-1.75% would have been a more appropriate action. The following considerations factored into my decision.
Source: http://econintersect.com/pages/contributors/contributor.php?post=201909210536
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