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Federal Reserve  Bullard said that  “aggressive” action needed given dive in U.S. bond yields, the impact of the trade war.

Key comments:

  • Current fed policy rate “too high,” would be better to get to “the right point” now rather than in smaller steps.
  • A 50 basis point cut would align central bank with market expectations.
  • Calls trade debate a “reckoning” for the current world trading system that could take a long time to sort out.