Fed's Bullard says Bernanke bond announcement was poorly timed

WASHINGTON Fri Jun 21, 2013 4:43pm IST

U.S.Federal Reserve Chairman Ben Bernanke addresses a news conference following the Fed's two-day policy meeting at the Federal Reserve in Washington, June 19, 2013. REUTERS/Jason Reed

U.S.Federal Reserve Chairman Ben Bernanke addresses a news conference following the Fed's two-day policy meeting at the Federal Reserve in Washington, June 19, 2013.

Credit: Reuters/Jason Reed

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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)

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