IDEAS home Printed from https://ideas.repec.org/p/fip/fedlps/309.html
   My bibliography  Save this paper

A Cautionary Note on U.S. Monetary Policy Normalization: a presentation at the Japan Center for International Finance, Global Finance Seminar, Tokyo, Japan

Author

Abstract

Speaking in Tokyo, St. Louis Fed President James Bullard discussed three reasons why caution may be justified in deciding whether to raise the U.S. policy rate (the fed funds rate target) further in the near term. First, market-based inflation expectations in the U.S. remain somewhat low. Second, the current level of the policy rate appears to be neutral, meaning it is putting neither upward nor downward pressure on inflation. Third, the U.S. nominal yield curve could invert later this year or in 2019, which would be a bearish signal for U.S. macroeconomic prospects, he said.

Suggested Citation

  • James B. Bullard, 2018. "A Cautionary Note on U.S. Monetary Policy Normalization: a presentation at the Japan Center for International Finance, Global Finance Seminar, Tokyo, Japan," Speech 309, Federal Reserve Bank of St. Louis.
    • Handle: RePEc:fip:fedlps:309
    as

    Download full text from publisher

    File URL: https://www.stlouisfed.org/~/media/files/pdfs/bullard/remarks/2018/bullard_jcif_tokyo_29_may_2018.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedlps:309. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anna Oates (email available below). General contact details of provider: https://edirc.repec.org/data/frbslus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.