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
- India approves $2.6 bln mounted gun purchase - official
- 'Hunger Games' tops U.S. box office with $123 million opening
- Computer spying malware uncovered with 'stealth' features - Symantec
- Celebrity song to aid fight against Africa Ebola crisis tops UK charts
- Multi-national crew blasts off for space station
India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article