Bullard re­mains con­fi­dent of US eco­nomic out­look

The Pak Banker - - FRONT PAGE -

Fed­eral Re­serve Bank of St. Louis Pres­i­dent James Bullard said he re­mains con­fi­dent in the US and world eco­nomic out­look even as oil prices dropped to the low­est level since 2009.

"I know there are a lot of wor­ries about global growth, a lot of it com­ing from China," Bullard, who votes on mon­e­tary pol­icy next year, said Fri­day in a Sir­iusXM Busi­ness Ra­dio in­ter­view. "I would prob­a­bly be more san­guine than the mar­ket in that di­men­sion." He also said the Fed doesn't re­act di­rectly to eq­uity mar­kets, as the Stan­dard & Poor's 500 In­dex headed to­ward its worst week in three years. Fed of­fi­cials showed con­cern about stub­bornly low in­fla­tion even as they in­di­cated that an im­prov­ing job mar­ket is bring­ing them closer to the first in­ter­est-rate in­crease in al­most a decade, ac­cord­ing to min­utes of the July 28-29 Fed­eral Open Mar­ket Com­mit­tee meet­ing re­leased this week. "On the growth side, the out­look is rel­a­tively good" and the ex­pan­sion in sec­ond half is likely to be "above trend," Bullard said.

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