Bullard speaks to reporters
- There is too much uncertainty around tariffs to assess impact at the moment
- Hopes US and China will get a good outcome on trade
- Recent inflation data has been unsurprising
- Global growth surprise, especially in Europe, wasn't priced in and that has led to USD weakness
- Not yet clear if Fed will have review of inflation framework but he supports a regular review
- Review would likely reaffirm the current framework but it would be a good exercise to do every 5 years or so
- Even if Q1 weaker than expected, it would not affect Fed's medium term outlook
- Doesn't see major change in unemployment rate by year-end
- Aggressive hikes could lead to inverted yield curve
- Yield curve ok now but risks are there for later this year and next
I thought Bullard might tilt to something a bit more hawkish but he's not giving away much.
