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Commenting on the Federal Reserve’s monetary policy framework review, “The  Fed does not have a vehicle for a large change to monetary framework,” said St. Louis Federal Reserve bank president James Bullard on Thursday.  “Ideas like average inflation targeting may come to influence policy debate but not so much that we are going to write it in stone.”

These comments had no noticeable impact on the USD and the US Dollar Index was last down 0.16% on the day at 98.16.

“The Fed can reconsider whether to take back  recent insurance cuts if and when businesses adjust to new trade landscape,” Bullard noted on the policy outlook and said that he was hoping that rate cuts would help them achieve a “bit better” growth.