Federal Reserve Bank of St. Louis President James Bullard presented “Remarks on the Current Stance of U.S. Monetary Policy” to the Union League Club of Chicago on Monday. Bullard reviewed several considerations that suggest a downward adjustment in the Federal Open Market Committee’s policy rate—the federal funds rate target range—may be warranted soon. In particular, he discussed the recent global trade disputes, expected slower growth in 2019, low inflation expectations and the Treasury yield curve’s more decisive move toward inversion. “The FOMC faces an economy that is expected to grow more slowly going forward, ... (full story)