real-time news and commentary for investors
Friday, Aug 2
Bullard cautious on taper, wants regular press conferences
- If the weaker than expected July jobs data wasn't enough to ease investors' taper concerns, St. Louis Fed chief James Bullard is out with some dovish commentary at a speech in Boston.
- The Fed needs more information about the state of the economy before QE is scaled back, he says, adding that recent data have been "weak."
- Bullard also claims he has been "generally too optimistic" about the outlook for the U.S. economy and as such, "caution is warranted."
- In a separate interview with Reuters, he says there should be a press conference after every Fed meeting to avoid the possibility that decisions will be delayed or pushed forward inappropriately.