U.S. ECONOMICS: Bullard Tempers Earlier Remarks On Tapering, Says Tame Inflation Allows For Patience
After spooking financial markets across the globe by telling Bloomberg News and CNBC that an October tapering was possible, St. Louis Fed President James Bullard (a voting member of the Fed) clarified his earlier remark saying that tame inflation afforded the Fed the luxury of time.
Speaking before the New York Association for Business Economics, Bullard did warn that even though the jobless rate is still far from the Fed's 6.5% target, the trend for lower unemployment will contribute to a bias to taper.
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