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, said implementation of the country's new healthcare law could create headwinds, but other restraints have been lifted.
"This year seems to be characterized by less macroeconomic uncertainty compared to previous years," Bullard said in prepared remarks to an agribusiness conference hosted by Arkansas State University. "This bodes well for U.S. macroeconomic prospects in 2013."
Bullard voted with his colleagues to maintain Fed bond purchases at an $85 billion monthly pace at its meeting on January 29-30. The central bank argued that its aggressive action was needed to support a gradual recovery and lower unemployment, which hit a lofty 7.9 percent in January.
Bullard said calmer conditions in Europe, where a bold promise of action by the European Central Bank had worked better than "might have been expected", was a key reason for the better global growth outlook and should aid growth elsewhere.
(Reporting By Alister Bull; Editing by Neil Stempleman)
St. Louis Federal Reserve Bank President James Bullard, a voting member of the U.S. central bank's policy-setting committee in 2013, said implementation of the country's new healthcare law could create headwinds, but other restraints have been lifted.
"This year seems to be characterized by less macroeconomic uncertainty compared to previous years," Bullard said in prepared remarks to an agribusiness conference hosted by Arkansas State University. "This bodes well for U.S. macroeconomic prospects in 2013."
Bullard voted with his colleagues to maintain Fed bond purchases at an $85 billion monthly pace at its meeting on January 29-30. The central bank argued that its aggressive action was needed to support a gradual recovery and lower unemployment, which hit a lofty 7.9 percent in January.
Bullard said calmer conditions in Europe, where a bold promise of action by the European Central Bank had worked better than "might have been expected", was a key reason for the better global growth outlook and should aid growth elsewhere.
(Reporting By Alister Bull; Editing by Neil Stempleman)