Fed’s Bullard Opposed to Tying Policy to Rate of Unemployment
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Federal Reserve Bank of St. Louis President James Bullard said he opposes tying monetary policy to a target for the unemployment rate, which he believes isn’t the best measure of job-market health.
“I have warned the committee against using specific numbers on unemployment,” Bullard said to reporters today after a speech in South Bend, Indiana, referring to the Federal Open Market Committee.