Fed's Bullard: A larger, half percentage point cut was more appropriate

In a recently published statement, St. Louis Fed President James Bullard said that he dissented from the recent rate cut decision because he thought a larger, 50 basis points, rate cut was more appropriate, per Reuters.

"There are signs US growth will slow in the near horizon, manufacturing appears to be in recession," Bullard added. "The dissent also prompted by the inverted yield curve. US government bond yields are higher than other major nations."

The US Dollar Index largely ignored these remarks and is now at 98.32, losing 0.04% on a daily basis. Below rare some additional quotes.

"Continued low inflation is also a factor in the dissent."

"Preferred to cut aggressively now and raise rates later if necessary."