speeches · March 23, 2016

Regional President Speech

James Bullard · President

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March 24, 2016 St. Louis Fed President James Bullard discussed whether the FOMC's decision earlier this month to leave the policy rate unchanged was an example of time-inconsistent policymaking, given that the state of the U.S. economy then was arguably consistent with the FOMC's Summary of Economic Projections (SEP) from December, which could have led some to believe an increase was warranted. During a presentation to the New York Association for Business Economics, he said that some key changes to the SEP in March were enough to justify a somewhat different policy stance than would otherwise have been warranted. He concluded that it is reasonable to interpret the FOMC as remaining time-consistent at the March meeting. Presentation (pdf) | Press Release

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Cite this document
APA
James Bullard (2016, March 23). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_20160324_james_bullard
BibTeX
@misc{wtfs_regional_speeche_20160324_james_bullard,
  author = {James Bullard},
  title = {Regional President Speech},
  year = {2016},
  month = {Mar},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_20160324_james_bullard},
  note = {Retrieved via When the Fed Speaks corpus}
}