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12/21/22, 5:39 PM Some Consequences of the U.S. Growth Surprise | James Bullard | St. Louis Fed Home > Latest from President Bullard > Speeches, Presentations and Commentary From the President Some Consequences of the U.S. Growth Surprise October 8, 2018 Presentation (pdf) | Press Release In Singapore, St. Louis Fed President James Bullard discussed the surprisingly strong performance of the U.S. economy relative to projections made by the Federal Open Market Committee (FOMC) in the first half of 2017. A key consequence of this growth surprise, Bullard said, is that it has allowed the FOMC to normalize its policy rate along a projected path, with attendant consequences for global financial markets. He added that a continuation of the growth surprise likely requires faster U.S. productivity growth. FOLLOW US SIGN UP FOR EMAIL ALERTS Receive updates in your inbox as soon as new content is published on our website SIGN UP QUICK LINKS About Us Legal Information Contact Us https://www.stlouisfed.org/from-the-president/speeches-and-presentations/2018/some-consequences-us-growth-surprise 1/2 12/21/22, 5:39 PM Some Consequences of the U.S. Growth Surprise | James Bullard | St. Louis Fed Privacy Policy Careers Doing Business with the Fed Events Federal Reserve Services Visiting the St. Louis Fed Federal Banking Regulations https://www.stlouisfed.org/from-the-president/speeches-and-presentations/2018/some-consequences-us-growth-surprise 2/2