Federal Reserve Bank of St. Louis President James Bullard discussed “A Sea Change in U.S. Monetary Policy” on Tuesday at the National Economists Club’s Summer Signature Luncheon. Bullard pointed out that the Federal Open Market Committee (FOMC) made significant adjustments to the path of U.S. monetary policy starting in January. “These changes were made in anticipation of slower growth in the U.S. economy during 2019 and also in anticipation of continued uncertainty regarding global trading arrangements,” he said. “While additional policy action may be desirable, the long and variable lags in the effects of monetary ... (full story)