Federal Reserve Bank of St. Louis President James Bullard said the Fed probably won't begin a new round of bond purchases following "encouraging" data showing the U.S. economy gained 200,000 payroll jobs in December.
"Hopefully, we will keep this momentum going in 2012," Bullard told reporters Saturday after a speech in Chicago. "The tone of the data has been very strong" and the central bank "probably could wait and see for now" before deciding whether there is a need for more accommodation, he said.
Policy makers are divided over whether they should see if the economy deteriorates before taking additional steps to try cutting borrowing costs and boosting job creation. The U.S. economy is growing moderately amid "apparent slowing" in global growth, with "some improvement in overall labor market conditions," Fed officials said last month. The unemployment rate fell to 8.5 percent from 8.7 percent in November, figures from the Labor Department showed last week.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
