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Fed Officials Play Down Wild Stocks, Policy in ‘Good Spot’

  • Bullard says too soon to taper, defers to Powell on timing
  • Mester says wild swings of some stocks not spilling widely
James Bullard
James BullardPhotographer: Luke MacGregor/Bloomberg
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Federal Reserve officials played down the economic impact of recent stock-market volatility, in the latest sign the U.S. central bank is not close to scaling back its massive bond purchases.

“We should be monitoring to make sure that volatility doesn’t spill over into other parts of the financial market but at this point this is not one of those kinds of situations,” Cleveland Fed President Loretta Mester told CNBC in an interview Thursday when asked about wild swings in the price of GameStop Corp.