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Fed member says rate cut is needed as trade war insurance

The market widely expects the Federal Reserve to cut interest rates at its next meeting on July 31. But that’s a month too late, according to St. Louis Federal Reserve president James Bullard. Bullard, speaking in an exclusive interview with … Julia Chatterley on the First Move show Thursday, said the Fed should cut rates now and do so one more time later this year — mainly due to worries that a trade war with China, Europe and other parts of the world could hurt the US economy.

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