Fed Reserve Bank President Says Global Economy is Recovering

James Bullard, President of the St. Louis Federal Reserve Bank, told conference attendees in Tokyo that, despite the European debt crisis, the outlook for the global economy is “strong”.

“While the sovereign debt crisis in Europe is indeed a serious matter, the global recovery at this point looks very strong and seems unlikely to be derailed,” Bullard told the audience.

In reference to the likelihood that the Fed could soon increase interest rates, Bullard said the US economy needs to gain in strength before an increase could be warranted.

Source: Reuters

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