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
- UPDATE 8-Dallas Ebola patient vomited outside apartment on way to hospital
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- Putin says Russia wants to move to national currencies in trade
- Appointment of Arvind Subramanian as chief economic adviser hits Modi hurdle
- Modi aims to shake up sanitation with Clean India drive
BACK IN JAIL
Subrata Roy, the jailed chief of India's Sahara conglomerate, is back in a cell after living in a makeshift prison office for two months as he tried to negotiate the sale of his luxury hotels, a jail official said. Full Article
Appointment of Arvind Subramanian as chief economic adviser hits Modi hurdle. Full Article
Diageo bars United Breweries from appointing independent director at United Spirits. Full Article