Fed's Bullard: A 25 bps rate cut this month would be appropriate, USD picks up bid

 St. Louis Federal Reserve President James Bullard was on the wires last minutes, via WSJ, noting that a 25bps rate cut this month would be appropriate.

He said that he sees no need for larger rate cuts.

"I would have preferred to just go ahead at the last meeting, and then we would have gotten out of this argument about whether we're going to do 50 basis points at the meeting and we would have been able to come into the July meeting and ask if more was needed or not," Bullard said.