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 4-P&G to exit Duracell battery business; quarterly sales dip
- Thousands raised to buy car for Pennsylvania sniper's lookalike
- Putin accuses United States of damaging world order
- WHO vaccines boss signs up as Ebola trial guinea pig
- UPDATE 10-Two U.S. states to quarantine health workers returning from Ebola zones
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article