The Fed: Powell, Bullard dampen market hopes that Fed will deliver half-point interest-rate cut

Bloomberg News/Landov
Fed Chairman Jerome Powell says monetary policy should not overreact to any individual data point or short-term swing in sentiment.

Comments from Federal Reserve Chairman Jerome Powell and St. Louis Fed President James Bullard on Tuesday dampened hopes by some investors that the central bank would deliver a half-point interest-rate cut in July.

In comments at the Council of Foreign Relations, Powell stuck close to comments he made at his press conference last week, saying that while there is greater uncertainty about trade and worries about the global economy, officials don’t know how long this may last or how serious the drag might be.

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