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The U.S. Economy Three Months into 2018: a presentation at the Arkansas Bankers Association and Arkansas State Bank Department’s Day with the Commissioner, Little Rock, Ark

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At the breakfast presentation, Bullard discussed real GDP growth, inflation and the yield curve, as well as the current stance of monetary policy. Bullard noted that global real GDP growth surprised to the upside during 2017, driving global financial market developments last year. However, he noted the effects of this growth surprise have stalled so far in 2018 in the face of uncertain first-quarter U.S. real GDP growth along with other factors. On inflation, he commented that while it remains low, it is expected to move somewhat higher during 2018. Regarding other macroeconomic developments, he noted that yield curve inversion remains a possibility later this year, and that monetary policy is close to neutral today. ?Current monetary policy settings are close to neutral, which is appropriate for the current macroeconomic situation,? he said.

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  • James B. Bullard, 2018. "The U.S. Economy Three Months into 2018: a presentation at the Arkansas Bankers Association and Arkansas State Bank Department’s Day with the Commissioner, Little Rock, Ark," Speech 303, Federal Reserve Bank of St. Louis.
    • Handle: RePEc:fip:fedlps:303
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