Comments by Fed's Bullard in Singapore
- Higher US interest rates are no longer necessary
- US growth surprise depends on productivity pick up
- US needs faster productivity growth to maintain GDP growth rates
Bullard has been known to be a bit dovish and doesn't really surprise with his comments here. The part on higher rates being "no longer necessary" can be taken to be a tad more dovish than the usual language but then again, it's Bullard. Either way, the dollar remains well bid on the day as there's a hint of a risk off tone in markets.
