The Asia crossover saw Fed voter Rosengren......>

FED: The Asia crossover saw Fed voter Rosengren (voted against the cut at the

most recent Fed meeting) stick to script, noting that there is no need for

immediate Fed action if the data stays on track. Although some headlines showed

that he is cognisant elevated risks and of the potential need for "aggressive"

easing if certain risks crystallise, but that isn't his base case, and he

remains wary of the Fed using up its powder. These comments could be viewed as a

little more guarded vs. his recent commentary, but as mentioned the "aggressive

easing" isn't his base case and he pointed to a continued need for data

dependence.

- Elsewhere, arch Fed dove and voter Bullard told RTRS that the Fed should "cut

interest rates by half a percentage point at its meeting in two weeks to get

ahead of both financial market expectations for a rate cut and a global trade

war that has become a broader "reckoning" over how the world economy is

organized." This represented a hardening of Bullard's dovish stance. Back in

August Bullard noted that "I think there will be a robust debate about 50...I

think it's creeping onto the table."