Fed's Bullard: Inflation breakevens suggest Fed is being too hawkish
|Federal Reserve Bank of St. Louis President James Bullard continues to speak in London with the key quotes, via Reuters, found below:
- Don't think in situation where need to be preemptive, we can wait and see with respect to future policy
- U.S. is not moving away from 2 percent growth
- The FOMC has been largely correct that inflation was returning towards target over recent years
- Disconcerting that inflation gone away from 2 percent
- We have been raising rates against a backdrop of relatively weak growth, downside inflation surprises
- Financial market reaction to March tightening has not been good, would have expected yields to rise with policy rate
- U.S. is trying to go it alone among global central banks, which you can do but need strong data behind you
- Need to question how far can push yield curves given global environment
- Inflation breakevens suggest fed is being too hawkish
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