Fed’s Bullard Says Exit Won’t Wait on Global Turmoil

The Federal Reserve may need to begin an exit from record levels of monetary accommodation even amid global uncertainties in Japan and the Middle East, St. Louis Federal Reserve President James Bullard said.

“The process of normalizing policy, even once it begins, will still leave unprecedented policy accommodation on the table,” Bullard said at a London dinner hosted by UBS AG, Switzerland’s biggest bank. Fed policy makers “may not be willing or able to wait until all global uncertainties are resolved to begin normalizing policy.”