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James Bullard

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Fed's credibility tested as inflation drifts below target

With the U.S. inflation rate about half of the Federal Reserve's 2.0 percent target, the central bank is facing a major test and some experts wonder whether it will eventually need to ramp up its already aggressive bond buying program.The Fed cut official interest rates effectively to zero in late 2008 during the financial crisis. Since then, it has bought more than $2.5 trillion in bonds to bolster an anemic economic recovery and speed up the decline in unemployment.Despite those actions, its favored inflation gauge, the Personal Consumption Expenditures (PCE) price index, has fallen to a 3-1/2 year low of 1.0 percent.Further, by the Fed's own forecasts, inflation is likely to remain short of the central bank's target for years."They say that they're going to set monetary policy in a way that ensures future inflation will be 2.0 percent," said Justin Wolfers, an economics professor at the University of Michigan's Gerald Ford School of Public Policy."Right now, they expect it to be low...

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  1. BOND REPORT: Treasurys Respond To Stocks On Slow Data Day

    Treasurys were little changed on Tuesday in the wake of a $32 billion auction of 3-year notes and ahead of Federal Open Market Meeting minutes scheduled for release ...

  2. MARKET SNAPSHOT: U.S. Stocks Slide After Disappointing Data

    U.S. stocks fell sharply Wednesday, with the benchmark indexes taking their worst hit in more than five weeks, after labor-market data disappointed ahead of Friday's...

  3. BOND REPORT: Treasury Yields Fall To Lowest Levels Of The Year

    Treasurys rallied on Thursday, pushing yields on the 10-year note to their lowest level this year, as weekly jobless claims rose to a four-month high and the Bank of...

  4. BOND REPORT: Treasurys Rally As Jobless Claims Rise

    Treasurys rallied on Thursday, pushing yields on the 10-year note below 1.8%, as weekly jobless claims rose to a four-month high and the Bank of Japan announced aggr...

  5. Fed Statement on Monetary Policy

    Information received since the Federal Open Market Committee met in January suggests a return to moderate economic growth following a pause late last year.  Labor ma...

  6. Traders Eye 2015 Rate Hike, Ongoing QE

    A surprise pick-up in U.S. jobs growth has boosted the chances of the Federal Reserve raising interest rates sooner than had been expected, but it is likely to take ...

  7. Bullard Sees Jobless Rate Below 6.5% In June 2014

    The unemployment rate could fall below 6.5% in June 2014, the threshold the Federal Reserve has set to consider a rate hike, said St. Louis Federal Reserve Bank Pres...

  8. Fed's Bullard: Current Policy Looks Very Easy

    Federal Reserve policy looks "very easy" and is below one of the Fed favorite guideposts for policy, said James Bullard, the president of the St. Louis Federal Reser...

  9. Fed Minutes Show Growing Unease with Bond Buys

    Federal Reserve officials expressed growing unease with the central bank's easy-money policies at its latest policy meeting and some suggested the Fed might need to ...

  10. Fed's Bullard: Central Bank Policy Is Much Easier

    STARKVILLE, Miss.--Changes in the way the Federal Reserve is conducting monetary policy have made the actions taken by it more powerful this year compared to 2012, a...

  11. Low Inflation May Allow Longer QE: Fed's Bullard

    Current "rather low" readings on inflation may give the Federal Reserve leeway to continue buying bonds and mortgage-related assets longer than otherwise would be th...

  12. Fed's Bullard: receding uncertainty bullish for 2013 US growth

    JONESBORO, Arkansas (Reuters) - St. Louis Federal Reserve Bank President James Bullard, a voting member of the U.S. central bank's policy-setting committee in 2013, ...

  1. Full Text: FOMC Statement

    Information received since the Federal Open Market Committee met in March suggests that economic activity has been expanding at a moderate pace. Labor market conditi...

  2. Inflation Falling Despite Fed's Easy Money Policies

    What happens when the Federal Reserve keeps interest rates at nearly zero for more than four years and simultaneously buys trillions of dollars worth of bonds to pum...

  3. Will the Fed Buy Even More Barrels of Green Ink?

    The Federal Reserve is at risk of failing its two primary responsibilities: control inflation and foster full employment. That's why this week it may hint that it wi...

  4. Gold slide flashes warning signs for global economy

    The plunge in the gold price in the past week may have raised a big red flag over the global economy.Some top investors say the gold sell-off, and the broader declin...

  5. Gold and Silver Continue to Struggle

    On Wednesday, gold ( NYSEARCA:GLD ) futures for June delivery, the most active contract, declined $4.70 to close at $1,382.70 per ounce, while silver ( NYSEARCA:SLV ...

  6. Fed Should Not Emphasize Labor Market: Bullard

    The Federal Reserve should not "put more weight" on unemployment over price stability in its decision-making process, said James Bullard, the president of the St. Lo...

  7. Bullard Says Fed More Mindful of Policy Pitfalls After Housing Crisis

    If the housing crisis has taught the Federal Reserve anything, it's for its economists to be more mindful of the pitfalls of bad public policy, Federal Reserve Bank ...

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