The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Search Site Home > James Bullard, President and CEO > James Bullard - Speeches, Presentations and Commentary > Current Growth, In ation and Price Level Developments in the U.S. From the President Key Policy Papers Speeches, Presentations and Commentary Research Papers Media Interviews May 26, 2017 Presentation (pdf) | Press Release In a lecture at Keio University in Tokyo, St. Louis Fed President James Bullard said that the U.S. price level is falling short of the 2 percent path maintained between 1995 and 2012. The gap between the current price level, measured by the personal consumption expenditures price index, and the previously established path has now widened to 4.6 percent. He also said that U.S. macroeconomic data have been relatively weak, on balance, since the Federal Open Market Committee (FOMC) met in March and raised the fed funds rate. Financial market readings since then have moved in the opposite direction of what would typically be expected. “This may suggest that the FOMC’s contemplated policy rate path is overly aggressive relative to actual incoming data,” Bullard said. He also discussed the relationship between unemployment and in ation and said that, even if U.S. unemployment declines substantially further, the effects on U.S. in ation are likely to be small. James Bullard President and Chief Executive O cer Bio Curriculum Vitae Staff Contacts IDEAS/RePEc Pro le Photos Videos Subscribe: Email alerts RSS "Rationally, let it be said in a whisper, experience is certainly worth more than theory." Amerigo Vespucci GENERAL Home About Us Bank Supervision Careers Community Development Economic Education Events Inside the Economy Museum Newsroom On the Economy Blog Open Vault Blog OUR DISTRICT Little Rock Branch Louisville Branch Memphis Branch Agricultural Finance Monitor Housing Market Conditions SELECTED PUBLICATIONS Bridges Economic Synopses Housing Market Perspectives In the Balance Page One Economics The Quarterly Debt Monitor Review Regional Economist ST. LOUIS FED PRESIDENT James Bullard's Website INITIATIVES Center for Household Financial Stability Dialogue with the Fed Federal Banking Regulations FOMC Speak In Plain English - Making Sense of the Federal Reserve Timely Topics Podcasts and Videos DATA AND INFORMATION SERVICES CASSIDI® FRASER® FRED® FRED® Blog GeoFRED® IDEAS FOLLOW THE FED Twitter Facebook YouTube Google Plus Email Subscriptions RSS CONTACT US | LEGAL INFORMATION | PRIVACY NOTICE & POLICY | FEDERAL RESERVE SYSTEM ONLINE
@FedFRASER