Bullard Predicts Fed Won’t Cut Interest Rate on Excess Reserves
This article is for subscribers only.
Federal Reserve Bank of St. Louis President James Bullard, a voter on policy this year who has backed record stimulus, predicted the Fed won’t cut the interest rate on excess reserves to further stimulate the economy.
“Attitudes haven’t changed very much on that” among policy makers, Bullard said to reporters today after a speech in Rogers, Arkansas. The interest rate that the Fed currently pays on bank reserves is 0.25 percent.