Fed's Bullard: talk of further US stimulus from Fed is wrong; US badly needs fiscal agenda for boosting growth
- calls for better growth policy is falling on deaf ears
- the strong June jobs gains showed May report was an anomaly
- ultimate Brexit impact on US economy will be close to zero
- expects continued slowing pace of job growth in coming months would be normal development
Fed's Bullard (FOMC voter; dovish): The St. Louis Fed's new forecasting model foresees eight possible scenarios for US economy - Q&A
- QE gives the Fed some ammo if a new downturn occurs- Monetary policy can't change productivity outlook
- Eventaully expects general purpose technology to translate into workplace producitivity
IMF report: urges Fed to delay rate hikes if Brexit risks materialize; sees negligible Brexit impact on US
- there are merits to inflation overshoot
- there are important downside risks to favorable US outlook
Fed's Bullard (FOMC voter; dovish): reiterates only a single interest rate hike is needed for foreseeable future
- economy stuck in low growth, low inflation, low unemployment regime; path of target interest rate is essentially flat- the current policy narrative has outlived its usefulness
- reiterates forecast for achieving 2% inflation and 4.7% unemployment over 2.5 years
Tuesday (July 12)- Pre-Market: FAST- After-Hours: AIR, ADTNWednesday (July 13)- Pre-Market: CBSH, ANGO- After-Hours: YUM, CSXThursday (July 14)- Pre-Market: JPM, DAL, PGR, BLK, FRC, WNS, SKIS- After-Hours: RECN, PPHMFriday (July 15)- Pre-Market: WFC, C, USB, PNC, FHN- After-Hours: None Confirmed