WASHINGTON — The price path "signature" indicates U.S. monetary policy is "optimal," as it has returned prices to a path close to that seen in the mid-1990s, St. Louis Federal Reserve Bank President James Bullard said Thursday night.

In a presentation entitled "Price Level Targeting: The Fed Has It About Right," Bullard noted that nominal GDP would seem to suggest policy is too tight but should be adjusted to account for the historic post-crisis slowing of the pace of growth.

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