The United States is on track for a “reasonable” recovery in 2010, and the corner has been turned in the jobs market, James Bullard, president and chief executive officer of the Federal Reserve Bank of St. Louis, said in a CNBC interview yesterday.
He expressed cautious optimism about the U.S. economic outlook and argued for the reversal of quantitative easing before rate hikes as the best exit strategy.
Bullard said it’s “natural” to remove quantitative easing before raising the federal funds rate, but added that he is in the minority on that point.
“I think we are on track. I do think we are recovering. We will continue to have positive GDP growth in the first half,” he said.
“I think we will get some good months of jobs reports coming up very, very soon,” Bullard added.
— Market News International
