Bullard Reiterates Need to See More Data
Repeating his claim that the Federal Open Market Committee needs to see more data before tapering asset purchases, Federal Reserve Bank of St. Louis President James Bullard said the FOMC should have a press conference after each meeting, not just every other meeting.
Talk of taper revolves around the September and December FOMC meetings, Bullard noted, since there is no press conference scheduled after the October meeting.
"The FOMC should make all meetings ex ante identical so that key decisions can be made at any juncture. This would allow the Committee to better align appropriate decisions with incoming macroeconomic data," Bullard said, according to a release from the Fed.
Returning to his call for the FOMC to see more economic data in the second half before a decision on tapering is made, Bullard said, "It is especially important to see if better macroeconomic growth materializes in the months and quarters ahead, and whether inflation naturally returns toward target."