James Bullard of the Federal Reserve St Louis
- says he was approached by Trump administration in recent months about possible seat on Fed board, but said he was happy in his current job
- says part of his preference for a rate reduction in June was tactical, would prefer to move rather than promise a move in the future
- says he thinks two rate reductions by end of year would ensure a ‘soft landing,’ move policy from slightly restrictive to slightly accommodative
- says if Fed does cut rates in July, he does not feel a need to also end reduction in the balance sheet since that is already going to end in September
- US dollar jumps after Bullard dismisses calls for 50 basis point cut, hints at only a single cut
