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Bullard Concerned Ultra-Low Rates Will Promote Market Excesses

From nasdaq.com

Federal Reserve Bank of St. Louis President James Bullard said Tuesday he worries zero-level interest rates will foster excesses in financial markets, adding the main problem the U.S. economy has faced over the past two decades is asset prices "getting out of hand and collapsing."Mr. Bullard made the remarks after a presentation in Washington before a gathering of the National Association for Business Economics, in which he again made the case for gradual interest rate increases. In the question and answer session, the official said, however, that a long economic recovery doesn't increase the odds of an economic ... (full story)

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