Fed's Bullard: Has an open mind about policy
Will not prejudge on June
- Mounting evidence that negative rates don't work well
- Brexit is an issue but not a significant issue
- Thinks having a press conference after each meeting is appropriate.
- Would rather raise rates on the back of "good news about the economy"
- It is a "fair assessment" the argument for raising rates now is considerably lower.
- Not losing faith in economy
- Trend in labor market data shows employment is still very strong.
- Isn't helpful for Fed officials to talk about how many rate rises in a given year because the economy can surprise (and their track record has been pretty poor).
His comments are from a WSJ interview.
Over the weekend Fed's Mester said that employment report had not changed her view. Fed's Rosengren said he continues to favor gradual rate rises but he stopped short of saying when.
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