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Fed's Bullard Says Next Interest Rate Hike `May Not Be Far Off'

  • The central bank's delay was based on not much data, he says
  • Says credibility can be at stake in not following through
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Bullard: The Fed's Dot Plot May Be Counterproductive

Federal Reserve Bank of St. Louis President James Bullard said the U.S. central bank could be getting close to raising interest rates again, after it opted to take a pass on a rate hike last week.

“The relatively minor downgrades contained in the March SEP suggest that the next rate increase may not be far off provided that the economy evolves as expected,” Bullard said in a speech in New York on Thursday, referring to Fed officials’ quarterly forecasts, known as the Summary of Economic Projections.