Bullard Says Fed on Hold Until Late ‘11 With ‘Softer’ Data
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Federal Reserve Bank of St. Louis President James Bullard said the central bank may keep its monetary-policy unchanged until late this year, and that declining inflation expectations have curbed the need to begin withdrawing record stimulus.
“It does take some pressure off the Fed,” Bullard, 50, said in an interview at Bloomberg News headquarters in New York. “I take it seriously that market indicators of inflation have come down. The data has been softer, and these global uncertainties have weighed on markets.”