Bullard says hard for any individual Fed appointee to ‘be dominant’

FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore
FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar Su

March 29, 2019

MILWAUKEE (Reuters) – The possible appointment of presidential adviser Stephen Moore to the Federal Reserve would be unlikely to shift the U.S. central bank’s policy because he would be only one voice among many, the head of the St. Louis Federal Reserve Bank, James Bullard, said on Thursday.

“It is a very large committee, 19 at full strength. So no one voice is going to be dominant in that environment,” Bullard said. “There is a huge staff with lots and lots of analysis about where monetary policy should be, so that is informing the judgment as well.” President Donald Trump said he planned to nominate Moore, who has been harshly critical of Fed Chair Jerome Powell, to an open seat on the central bank’s board of governors.

(Reporting by Howard Schneider; Editing by Leslie Adler)

Source link