Bullard Warns About Optimism

Recent gains in Treasury yields may be based on greater optimism about the economic future, but Federal Reserve Bank of St. Louis President James Bullard warned forecasters have been wrong.

"Given recent forecasting records, we may want to reserve judgment on this until better data arrive," Bullard said, according to prepared text of remarks Friday as part of the Federal Reserve Bank panel at the Global Interdependence Center's 5th Annual Rocky Mountain Economic Summit.

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