St Louis Fed President Bullard in Q&A asked.....>

FED: St Louis Fed President Bullard in Q&A asked about 'mid-cycle' rate

adjustment alluded to by Fed Chair Powell at July FOMC. Says 'hopes they can

pull off' similar cycle to mid-1990s. Don't want to 'pile on' easing, you want

no see how previous easing impacts. Wouldn't rule out more changes. But does not

predict recession, in 'mid-cycle'.

- Bullard asked about what it would take for a 50bps cut - says we are not in a

situation like late 2007/early 2008. Very dismissive: 'We're not in that

situation...come on'.

- Says could move in direction of a make-up inflation strategy as part of the

FOMC framework review.

- Standing Repo facility 'a good idea', 'gaining traction' at the Fed

- Prolonged trade uncertainty could mean equilibrium long-term rates could be

slightly more moderate compared to what you would otherwise have. How big that

factor is is a good question