FOMC - Member Bullard warns against too much optimism in the U.S. economy, USD declines

The chairman of the Federal Reserve of St. Louis, James Bullard, dampened yesterday with the statement that those responsible for the monetary policy of the United States should not put too much weight in the forecasts for the economy, and all measures to be taken with a healthy degree of caution have to be made. He justified his statement with the overly optimistic forecasts of the FOMC in recent years. Bullard caused quite a doubt on the speculation of a reduction of bond purchases by the Fed and the U.S. dollar fell in the wake of again. A PDF document of the St. Louis Fed's Bullard's opinion is available here (English). Bullard speaks again today at 14:30 clock.

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