WASHINGTON (Reuters) – St. Louis Federal Reserve bank president James Bullard said he dissented at this week’s Federal Open Market Committee meeting because he felt weak inflation and uncertainties about the outlook for economic growth warranted an interest rate cut.
“Inflation measures have declined substantially since the end of last year and are presently running some 40 to 50 basis points below the FOMC’s 2% inflation target,” Bullard said in a statement released Friday morning.
Inflation - Expectations
With inflation expectations also weak, “I...
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