Federal Reserve Latest News: Fed's Bullard: U.S. Economy Looks Poised for Good Growth

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Federal Reserve Latest News: Fed's Bullard: U.S. Economy Looks Poised for Good Growth

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Federal Reserve Latest News: Fed's Bullard: U.S. Economy Looks Poised for Good Growth

by Wochit 1:03 mins

Federal Reserve Latest News: Fed's Bullard: U.S. Economy Looks Poised for Good Growth

by Wochit 1:03 mins

The U.S. economy looks on track for a strong upturn but the Federal Reserve should still wait for solid evidence this is really under way before taking monetary policy action, St. Louis Fed President James Ballard said. Gold turns around an earlier loss after a weaker-than-expected U.S. July jobs report. Gold futures turned a steep loss into a small gain after July payrolls growth came in short of expectations, leading analysts to say plans for the Federal Reserve to taper its bond buying could be pushed further out. One Fed member is warning the central bank against jumping the gun. St. Louis Fed president James Bullard said the Federal Reserve needed to see improvement in the economy before tapering its stimulus measures, warning that recent forecasts had often proved too optimistic.

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