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Bullard Explains Preference For Bigger Interest Rate Cut

St. Louis Federal Reserve President James Bullard was one of three voting members of the Federal Open Market Committee that voted against the Fed’s quarter-point rate cut on Wednesday, preferring a more substantial rate cut than his colleagues. Bullard explained his preference for a 50 basis point rate cut in a statement on Friday, citing signs that U.S. economic growth is expected to slow.
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