James Bullard

President, Federal Reserve Bank of St. Louis


Joined the Federal Reserve: April 1, 2008


Summary Lean Statement Date Publication Date
1  Fed's Bullard: Stock correction prevented bubble: "Explaining his inflation concerns, Bullard told CNBC Thursday he had thought last year that once oil prices stabilized inflation expectations would increase. "But then starting in November, we had another leg down in the oil markets," he said. "This is too low for comfort, and it's giving me pause."" Dovish February 25, 2016 February 25, 2016
2  More on the Changing Imperatives for U.S. Monetary Policy Normalization: "I regard it as unwise to continue a normalization strategy in an environment of declining market-based inflation expectations."  Similar to Prior Statement Dovish February 24, 2016 February 24, 2016
3  Changing Imperatives for U.S. Monetary Policy Normalization: "I regard it as unwise to continue a normalization strategy in an environment of declining market-based inflation expectations. I find arguments that these measures have declined due to changing risk premia or related factors unpersuasive because those analyses are too sensitive to the underlying assumptions." Dovish February 17, 2016 February 17, 2016
4  Fed's Bullard Says Oil's Fall May Delay Inflation Return to 2%: "Bullard told reporters after his speech that strong U.S. employment would argue that the FOMC’S median projection of rate increases totaling 1 percentage point this year is “about right,” while inflation and price expectations concerns “would tend to push off rate increases.” Bullard said he would put more weight on expectations if they continue to decline. “Generally speaking, the markets and the committee are not thinking in terms of a January move,” Bullard said. “As far as March, we would want to get more information and see how things play out before we make a judgment.”" Dovish January 14, 2016 January 14, 2016
5  Fed official: Not raising rates in September was a 'mistake': "I will argue for a move in December. I don’t want to prejudge what the committee might do, but that will be my position." (It is not clear whether the interview actually took place on December 7th.) Hawkish December 7, 2015 December 7, 2015
6  Permazero as a Possible Medium-term Outcome for the U.S. and the G-7: "I continue to be an advocate for beginning policy normalization. My argument has been that the FOMC’s goals have been met, while the FOMC’s policy settings remain extreme."  Similar to Prior Statement Hawkish December 4, 2015 December 4, 2015
7  Fed's Bullard Signals Imminent Rate Hike: "St. Louis Fed President James Bullard on Friday signaled that a rate hike is coming “soon,” but offered no specifics. Instead, he pointed to the Fed’s statement from its October meeting. “In October, the [policy-setting Federal Open Market Committee] removed the key sentence citing global factors and suggested that the zero interest rate policy could be ended soon, depending on incoming data,” Bullard said in prepared remarks during a speech in Arkansas."  Similar to Prior Statement Hawkish November 20, 2015 November 20, 2015
8  Fed faces the risk of waiting too long: "As James Bullard, the president of the St Louis Fed, put it in an interview with the Financial Times: “You would like to not be feeding into the process of bubble formation with low rates. You would like to hedge your bets against that by edging rates up some, then that will take off some of the risk.”" (It is not clear on which date this interview took place.) Hawkish November 16, 2015 November 16, 2015
9  Rethinking Monetary Policy: "A simple and prudent approach to current policy is to move the policy settings closer to normal levels now that the goals of policy have been attained. There is no reason to continue to experiment with extreme policy settings." Hawkish November 12, 2015 November 12, 2015
10  Issues that deterred Fed from September rate hike largely disappeared: Bullard: "The worries about China and other global problems that caused the Fed to delay an interest rate hike in September have largely passed, St. Louis Fed President James Bullard said on Friday, spelling out the arguments for a rate hike when the Fed meets next month." Hawkish November 6, 2015 November 6, 2015
11  Exclusive: Fed faces challenge of how to justify possible slowdown in jobs growth - Bullard: "In an interview with Reuters, Bullard said U.S. central bankers may need to mount a new communications campaign to convince markets and the public of a counter-intuitive idea: that slowing monthly job growth is natural at this point in the recovery, and will allow the Fed to stay on track for a likely December rate hike." Hawkish November 5, 2015 November 5, 2015
12  Bullard says 'tough' for Fed to reverse course and hike rates in October: ""It is very tough for the committee to make a big decision and then change it after only one meeting," Bullard said. "Roughly speaking the data has not been that different from what would have been expected, and the jobs report was weaker."" Dovish October 13, 2015 October 13, 2015
13  More on Three Challenges to Central Bank Orthodoxy: "A prudent monetary policy based on traditional central banking principles would begin to return policy settings to normal levels over the medium term."  Similar to Prior Statement Hawkish October 13, 2015 October 13, 2015
14  Three Challenges to Central Bank Orthodoxy: "A simple and prudent approach to current policy would be to begin normalizing the policy settings in an effort to extend the length of the expansion and to avoid taking unnecessary risks associated with exceptionally low rates and a large Fed balance sheet." Hawkish October 2, 2015 October 2, 2015
15  We asked a Federal Reserve board member 12 questions — here is what he said: "I think that the case [for raising rates] is compelling, and I'm concerned that the debate has drifted toward even small moves being construed as tightening monetary policy. That isn't the case." (It is not clear on which date this interview actually took place.) Hawkish September 23, 2015 September 23, 2015
16  Fed's Bullard: October rate hike possible, but ...: "St. Louis Fed President James Bullard said Monday it's time to increase interest rates, and policymakers should not react to turmoil in financial markets." Hawkish September 21, 2015 September 21, 2015
17  A Long, Long Way to Go: "The case for normalization is simple: The Committee’s goals have essentially been met, but the Committee’s policy settings remain stuck in emergency mode." Hawkish September 19, 2015 September 19, 2015
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