February 22, 2019 / 6:07 PM / 7 months ago

REFILE-UPDATE 1-Fed's Bullard says not ready to call for a U.S. rate cut -Fox Business

(Refiles to say ‘a’ rate cut, not ‘another’ rate cut in first paragraph and headline)

WASHINGTON, Feb 22 (Reuters) - St. Louis Federal Reserve Bank President James Bullard on Friday said he was not expecting a rate cut in 2019, but added that the U.S. Federal Reserve will see how the U.S. economy progresses this year.

Bullard, in an interview on Fox Business Network, also said stable rates made him more comfortable with a larger balance sheet and that he anticipated the balance sheet’s unwinding before the end of the year, according to the network.

“We’ll keep rates where they are,” Bullard said in an interview on Fox Business Network. “We’ve got inflation well under control here and we don’t need to be preemptive in trying to control inflation going forward.”

Asked if he anticipated a possible rate cut this year, he said: “I haven’t penciled that in.”

Bullard last month said that the U.S. central bank had come to the end of its current interest-rate hike cycle with U.S. growth likely to slow in the months ahead. (Reporting by Susan Heavey and Tim Ahmann Editing by Chizu Nomiyama)

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