James Brian Bullard, president of the Federal Reserve Bank of St. Louis, said today that he would be willing to serve as the Fed’s Chair in the future, cited by Reuters.
Regarding monetary policy, he mentioned it would be difficult for the Fed no to ease at this point. He voted at the last meeting for a rate cut, and he hinted that he would do the same at the upcoming meeting on July 30/31. According to him, there is no need to revisit the decision on the timing of the balance sheet runoff.
Bullard wants to see an upward sloping of the yield curve, a signal that economic expansion is likely to continue. A rate cut could lift inflation expectation according to him.
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