Fed’s Bullard Wants to See More Data Before Taking Action
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Federal Reserve Bank of St. Louis President James Bullard said policy makers should wait for more data before deciding on “big action” to boost the economy.
“I would like to see some more data before taking really big action,” Bullard said in an interview today on Bloomberg Television from Jackson Hole, Wyoming. He said policy makers should consider changing their statement that interest rates are likely to stay low at least through late 2014 or reducing the interest the Fed pays banks’ on excess reserves.