Fed’s Bullard says no to rate hikes while inflation is below 1.5 per cent
The Federal Reserve's James Bullard has said that "we don't have to be in any hurry" to make changes to policy and that he'd prefer to be "cautious" and for the central bank to "take our time".
Bullard has said that a 1.5 per cent inflation floor before a rate increase would should the the Federal Open Market Committee is serious on prices.
Speaking to CNBC, he said that "we can afford to be very deliberate" when considering tapering quantitative easing – slowing the rate of expansion of the monetary base – and wait for the data to make a decision.
The central banker said that he believed easing to have "been very successful" in financial markets, with a less clear effect on the real economy.
What's going on with Bullard this morning? Advocating QE-infinity? // $FED's Bullard says Fed needs to look at global markets + US.
— Christopher Vecchio (@CVecchioFX) August 23, 2013