Fed's Bullard says low interest era not expected to end

Features Reuters

  • James Bullard, President of the St. Louis Federal Reserve Bank, speaks during an interview with Reuters in Boston, Massachusetts August 2, 2013.  REUTERS/Brian Snyder

    James Bullard, President of the St. Louis Federal Reserve Bank, speaks during an interview with Reuters in Boston, Massachusetts August 2, 2013. REUTERS/Brian Snyder (Copyright Reuters 2016)

  • St. Louis Federal Reserve President James Bullard speaks at a public lecture on "Slow Normalization or No Normalization" in Singapore May 26, 2016. REUTERS/Edgar Su/File Photo

    St. Louis Federal Reserve President James Bullard speaks at a public lecture on "Slow Normalization or No Normalization" in Singapore May 26, 2016. REUTERS/Edgar Su/File Photo (Copyright Reuters 2016)

  • Republican Donald Trump delivers remarks at the Shale Insight energy conference in Pittsburgh, Pennsylvania, U.S. September 22, 2016. REUTERS/Jonathan Ernst/File Photo

    Republican Donald Trump delivers remarks at the Shale Insight energy conference in Pittsburgh, Pennsylvania, U.S. September 22, 2016. REUTERS/Jonathan Ernst/File Photo (Copyright Reuters 2016)

The era of low global interest rates is not expected to come to an abrupt end, Federal Reserve policy maker James Bullard said on Wednesday, although a rise in U.S. productivity growth would normally require a rise in its rates.

Continue Reading Below

"We have a low interest rate regime and it is really not expected to turn around and mean revert," Bullard said a UBS banking conference.

He added that there were a number of different possible paths for the U.S. economy at present and that monetary policy could be steered to react accordingly as the situation becomes clearer.

(Reporting by Marc Jones)