The Bullard-train gets rolling

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St. Louis Fed President James Bullard loves to give a speech but he’s really out-doing himself today.

He just started a speech in Kentucky, will give a second one at 3:15 ET (1915 GMT) and will speak to the media at 4:40 ET (2040 GMT).

His first comments are on inflation, saying it ‘hasn’t materialized so far’ but that he sees ‘a lot of risk going forward’.

Update:

  • There has not been much indication so far that inflation is ticking back up toward the 2% target
  • Important for Fed credibility that 2% target is hit, inflation running low
  • Doesn’t see ‘much evidence’ of impact from sequester
  • US should think about shrinking too-big-to-fail banks
  • Sees Japan as a ‘huge monetary policy experiment’

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

2 Comments

  1. Yea right, there’s no inflation. I guess Bullard doesn’t eat, drive, go to the doctor, wear clothing, or own a home…

  2. Treasury Ran $98 Billion Deficit in July–But Debt Stayed Exactly $16,699,396,000,000 August 14, 2013 – 4:15 AM (CNS News.com) – The Treasury Department’s Financial Management Service (FMS), which publishes both the federal government’s official Daily Treasury Statement and its official Monthly Treasury Statement, is reporting that in July the federal government ran a deficit of $98 billion but that the federal government’s debt remained exactly $16,699,396,000,000 for the entire month.The FMS said that the deficit went up $98 billion ($97,594,000,000) in the Monthly Treasury Statement for July, which it released on Monday.At the same time, the FMS said the debt stayed at exactly $16,699,396,000,000 in its Daily Treasury Statements, which are published every business day. The Daily Treasury Statements show the daily value of the federal government debt that is subject to a legal limit set by Congress.At the static $16,699,396,000,000 level that the Treasury reported for every day of July, the debt was just $25 million below the legal limit of $16,699,421,000,000 that was set in a law passed by Congress and signed by President Barack Obama.If Treasury’s daily statements were to declare that the government had borrowed an additional net $98 billion to cover the $98 billion deficit the Treasury declared in its monthly statement for July, the Treasury would be conceding that the government had already surpassed the legal limit on the debt–and has been violating the law by continuing to borrowing additional money.Instead, even as the Treasury was running up the $98-billion deficit it reported in the July Monthly Treasury Statement, every one of the 22 Daily Treasury Statements published for July said the Treasury had closed out the previous business day with exactly $16,699,396,000,000 in debt.
    – See more at: http://cnsnews.com/news/article/treasury-ran-98-billion-deficit-july-debt-stayed-exactly-16699396000000#sthash.kmWUzB0p.dpuf

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