Bullard cautious on taper, wants regular press conferences

|By:, SA News Editor

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.