Fed's Bullard says Bernanke bond announcement was poorly timed
WASHINGTON (Reuters) - St. Louis Federal Reserve Bank President James Bullard worried that the Fed's decision on Wednesday to announce a plan to reduce bond buying was poorly time, the regional Fed bank said in a statement on Friday explaining his dissent.
"President Bullard ... felt that the committee's decision to authorize the chairman to lay out a more elaborate plan for reducing the pace of asset purchases was inappropriately timed," the St. Louis Fed's statement said.
It also repeated that Bullard thought the U.S. central bank should have more strongly signaled a willingness to defend its 2 percent inflation target in light of recent low inflation readings.
(Reporting by Alister Bull; Editing by Lisa Von Ahn)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Monetary Policy Committee
Having agreed this week to formally adopt inflation targeting as a guiding star for monetary policy, India's government and central bank remain at odds over how crucial decisions are made. Full Article
PM Modi to ramp up help for Indian Ocean nations to counter China influence Full Article