Former Federal Reserve "Hawk King": More concerned about the economy than inflation, the Federal Reserve will at least wait until the second half of the year.

On May 14, former St. Louis Fed President James Bullard said in an interview that “the Trump administration was able to strike a trade deal before it could cause irreparable damage to the U.S. economy.” In the 2018-2019 trade war, we saw a slowdown in the US economy. Slowing economic growth is usually somewhat associated with a decline in inflation. So we won’t see inflation as high as originally expected. There has been opposition to inflationary narratives around tariffs. It cannot be said that we are in a recession at the moment, but the main concern is how the situation will play out in the second and third quarters and into the end of the year. Regarding rate cuts, it looks like the Fed will at least wait until the second half of this year. A lot depends on the specific development of the trade war." (Golden Ten)