James Bullard, president of the Federal Reserve Bank of St. Louis, said risks facing the economy include uncertainty over global trade policy and the slowing of the global economy. The head of the St. Louis Federal Reserve warned Tuesday that the U.S. economy could see a sharper slowdown than expected in the coming months.

“Slower global growth may feed back into slower growth in the U.S.,” he said. “U.S. monetary policy cannot reasonably react to the day-to-day give and take of trade negotiations,” Bullard said Tuesday during a presentation at a conference in London, adding that he doesn’t expect trade policy uncertainty will subside in the years ahead.

The Washington Examiner reported that Bullard said the Fed is attempting to alter the path of monetary policy this year. The Fed has cut interest rates two consecutive times, and Bullard, a member of the central bank’s Federal Open Market Committee, said it “has tried to insure against this downside risk by dramatically altering the path of monetary policy” this year.

Bullard voted against the Fed’s decrease in interest rates following its meeting in September, as he preferred a steeper cut. Because of the risks that remain high for the U.S. economy, the Federal Reserve “may choose to provide additional accommodation going further, but decisions will be made on a meeting-by-meeting basis.”

Trump Wants Zero Or NEGATIVE Interest Rates To Help With The National Debt

While the risks remain high for the U.S. economy, some analysts say there isn’t really anything the central bank can do to stop or lessen the effects of the next recession. If the Fed is seeing the cracks, it’s time to be prepared for what could come.  No one knows exactly what the next recession will look like, only that one is coming, and those who are prepared will have a better chance than those who are not.

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