"We are going to need deviations to the downside on inflation or the real economy or both" to justify a rate cut, Bullard aid in comment to reporters. OCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> WASHINGTON, April 11 () - The U.S. economy would have to slow faster than expected or inflation move down a notch before the Federal Reserve should consider cutting interest rates, St. Louis Federal Reserve president James Bullard said on Thursday.