Fed's Bullard Says Now May Be Good Time To Normalize Policy

St. Louis Fed President James Bullard on Wednesday said "now may be a good time to begin normalizing U.S. monetary policy." Bullard, one of the more hawkish members, said labor markets are improving at a rapid rate, GDP growth prospects remain "relatively robust," low inflation is mostly due to temporary factors, some Taylor-type rules suggest the U.S. should already be off the zero bound and financial stability risks are asymmetric toward staying too long at zero. Bullard said that normalizing policy now would help rates be appropriate for an improving economy over the next two years.