by Gerardo Del Real
Following a busy week of central bank inaction around the world, Federal Reserve Bank of St. Louis President Jim Bullard may have contributed the most honest comment from a member of the FOMC.
Mr. Bullard stated, “This mismatch between what we are saying and what we are doing is arguably causing distortions in global financial markets.”
Jim Bullard went on to add that he feels only one rate hike is needed for the next two and a half years and that the U.S. is now in a new economic regime.
The comments were made public on Friday, June 17 and follow a week of complete inaction by central banks in Europe, Japan, and the U.S.