James Bullard, former St. Louis Fed President and potential Fed Chair candidate, calls for a 100 basis-point cut in 2024, highlighting ongoing discussions with Treasury Secretary Bessent.
James Bullard, former President of the St. Louis Federal Reserve, urged a 100 basis-point interest rate cut this year, starting at the September meeting, with potential reductions continuing through 2026. He confirmed ongoing contact with Treasury Secretary Bessent regarding his candidacy for Fed Chair and may meet her after Labor Day. Bullard emphasized that future cuts will depend on economic data and stressed the importance of maintaining the U.S. dollar’s global reserve currency status.