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St. Louis Fed's Bullard Discusses Two Monetary Policy Normalization Views
Federal Reserve Bank of St. Louis President James Bullard discussed “Slow Normalization or No Normalization?” at the Official Monetary and Financial Institutions Forum’s (OMFIF) City Lecture on Thursday. Bullard noted that recent U.S. monetary policy discussions have been dominated by issues related to the possible pace of increase in the Federal Open Market Committee’s (FOMC) policy rate. He discussed two views regarding the expected policy rate path: the FOMC’s scenario and the market-based scenario. “The FOMC has laid out, via the Summary of Economic Projections (SEP), a data-dependent ‘slow ... (full story)