Speaking to CNBC, St. Louis Fed chief James Bullard says the Fed's balance sheet relative to GDP...

|By:, SA News Editor

Speaking to CNBC, St. Louis Fed chief James Bullard says the Fed's balance sheet relative to GDP is not "as high as some of these other central banks [which] gives us more room to maneuver." Bullard also notes the labor force participation rate "has been on a downward trend since 2000" and claims March's Nonfarm payrolls report doesn't change his projection for 7% unemployment by end of 2013. QE he says, should only be tapered in small "increments."