At a time when the market is shifting to betting on not cutting or even raising interest rates, Brad, a former major hawk and former senior Federal Reserve official, gave off a clear dovish signal.

On Tuesday local time, former St. Louis Federal Reserve Chairman James Bullard said in an interview with the media that cutting interest rates three times this year is the benchmark situation. The reason is that the inflation rate is moving closer to the Fed's target, yet the economy remains flexible.

Brad said, “Currently, it should be understood according to the Committee and Chairman's literal meaning. Their current benchmark forecast is still to cut interest rates three times during the year. This is the basic situation.”

Earlier, at the HSBC Global Investment Summit in Hong Kong, he said, “What you have seen is a very successful policy and a very strong economy, so now the Federal Reserve is progressing smoothly in many areas.”

Brad also said that economic data has proven that interest rates should be cut. Brad left the presidency of the St. Louis Federal Reserve last year and is now the dean of the Purdue University Business School in the US.

The bitmap released by the Federal Reserve in March shows that interest rates will be cut three times during the year. Meanwhile, Federal Reserve Chairman Powell said that the central bank is in no hurry to relax its policy and needs more evidence that inflation is continuing to ease.

Editor/Somer