Data Doesn’t Justify Rate Hikes – Bullard

The U.S. Federal Reserve should defer on its rate hike agenda until concrete reforms emerge from Washington, according to one of its key policy makers.

James Bullard, president of the St. Louis Federal Reserve, told CNBC Friday that weak data has undermined the Fed’s hawkish stance and the central bank should take a more reactionary approach if and when it sees solid signs of growth.

“The Fed can afford to wait and see what comes out of the political process,” said Bullard, who admitted he has retreated from his formerly more hawkish stance.

CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam