Fed's Bullard has been on the wires and has offered bearish comments in respect to the Fed's projections this year.
Bullard explained the inflation projections for this year are over-estimated and that the Fed were also over optimistic on their GDP projections and too pessimistic on jobs growth this year. He said that overestimating growth and inflation pull policy makers in one direction while underestimation of the unemployment decline pulls in the other direction.
There has been little market reaction, EUR/USD is 10 pips higher.
Bullard explained the inflation projections for this year are over-estimated and that the Fed were also over optimistic on their GDP projections and too pessimistic on jobs growth this year. He said that overestimating growth and inflation pull policy makers in one direction while underestimation of the unemployment decline pulls in the other direction.
There has been little market reaction, EUR/USD is 10 pips higher.
