St. Louis Federal Reserve Bank President James Bullard was out on the wires in the last hour, via Reuters, and outlined the case against any further Fed interest rate increases.

Key quotes:

   •  Rates may already have reached a “neutral” level that is no longer stimulating the economy.
   •  There are reasons for caution in raising the policy rate further given current macroeconomic conditions.
   •  Further hikes could leave inflation expectations short of the central bank’s goal, compress business investment and upset healthy labor market conditions.