Speech

Interview With St. Louis Fed President James Bullard

Abstract: Last week’s jobs report demonstrated the ongoing strength of the U.S. economy and underscored the need for the Federal Reserve to rein in its stimulus efforts, a Fed official said Tuesday. St. Louis Federal Reserve Bank President James Bullard said that Friday’s report, which showed a healthy gain of 943,000 jobs last month, means the economy is making sufficient progress to start reducing, or tapering, the Fed’s $120 billion in monthly bond purchases. Those purchases, which began last March during the pandemic recession, are intended to lower longer-term interest rates and bolster the economy.

Keywords: tapering; economic outlook;

Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Speech

Publication Date: 2021-08-10