Fed's Bullard: Fed should cut rates because inverted yield curve is not a good place to be

In an appearance on CNBC's Squawk Box on Friday, St. Louis Fed President James Bullard said lower interest rates would help them hit the inflation target. "The labour market is continuing to do well in the United States," Bullard added but noted that the contraction in global manufacturing was a cause of concern.

"Fed should cut rates because inverted yield curve is not a good place to be."

The US Dollar Index edged lower on Bullard's comments and was last seen at 98.40, still adding 0.2% on the day. Below are some additional key quotes, as reported by Reuters.