WASHINGTON 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)
Trending On Reuters
Maggi in a soup
Nestle India Ltd will focus on growing its dairy, coffee and confectionary businesses, its new boss said, as the company battles to bring back its popular Maggi noodles that were pulled from shelves over safety concerns. Full Article