St. Louis Federal Reserve President James Bullard said on Tuesday that he had be...
ST. LOUIS - St. Louis Federal Reserve President James Bullard said on Tuesday that he had been approached by the White House about a possible seat on the Federal Reserve Board of Governors, but said he would not consider leaving his current job.
“I have been approached on this. I am happy in my current position,” Bullard said in remarks to reporters ahead of an event at the St. Louis Fed. “I think these kinds of discussions are exploratory in nature and it’d be very unclear whether it would go any further.” Members of the Board of Governors are appointed by the president and are subject to Senate confirmation. The heads of the 12 regional banks are nominated by the directors of the local Fed boards and require no such confirmation.
Bullard, who currently holds a vote on the Fed’s rate-setting committee, said in comments to reporters that he felt the Fed should make an initial reduction of a quarter of a percentage point at an upcoming meeting, and make a second reduction later in the year. That, he said, would set the stage for an economic “soft landing” and help ensure continued growth into 2020.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar weighed by Fed prospects; Swiss franc, gold shine on geopoliticsThe dollar on Tuesday remained shackled by the prospects of monetary easing by t...
Read more »
After failed Fed bid, Stephen Moore reportedly takes role at cryptocurrency ‘central bank’Stephen Moore’s didn’t get a chance to join the Federal Reserve board, but the controversial conservative economic adviser will reportedly soon be playing a...
Read more »
Trump should leave the Fed alone and reset foreign policy if he hopes to be reelectedThe U.S. president may wish to pause his Fed tweets, and leave his economic advisors to watch the central bank instead, writes Michael Ivanovitch.
Read more »
Euro hits three-month high as Fed easing prospects weigh on dollarThe euro rose to a three-month high against the dollar on Monday, as bearish bet...
Read more »
Watch Fed Chair Jerome Powell speak live as market awaits hints on future rate cutsFederal Reserve Chairman Jerome Powell was scheduled to deliver a speech Tuesday at the Council on Foreign Relations in New York, followed by a question and answer session.
Read more »