St. Louis Fed President James Bullard spoke about the U.S. economy & monetary policy from Tokyo earlier

Headlines are here:

Fresh leg higher for USD

  • Bullard saying US macro data have been relatively weak, on balance, since FOMC's rate increase in March

Reuters have a recap:

  • The current level of U.S. prices is noticeably lower than what it would be if the Federal Reserve had delivered on its 2-percent inflation target, St. Louis Federal Reserve President James Bullard said, calling the trend "worrisome."
  • In slides prepared for delivery in Tokyo on Friday, the U.S. central banker said U.S. prices are now 4.6 percent below the price level path established from 1995 to 2012, when inflation was growing near the Fed's target of 2 percent each year.
  • "This is not as severe as the 1990s Japanese experience, but it is worrisome"

The Wall Street Journal also have a piece up (may be gated)

Fed's Bullard Says Markets Have More Dovish View on Interest-Rate Path
Inflation target shortfall is 'worrisome,' says president of St. Louis Fed

  • The movement of financial asset prices since the Fed's March interest-rate increase shows the central bank's "contemplated policy rate path is overly aggressive relative to actual incoming data on U.S. macroeconomic performance,"


Dovey .... full text is here