Bullard: Fed will raise rates in 1Q2015
St Louis Federal Reserve Bank President James Bullard says the central bank will raise interest rates in the first quarter of 2015, sooner than most analysts have predicted and well ahead of his more dovish fellow bankers are saying.
On Fox Business News Thursday, Bullard said of his expection, “I’ve left mine at the end of the first quarter of next year.
“Thee Fed is closer to its goal than many people appreciate,” Bullard said. “We’re really pretty close to normal.”
The Federal Open Market Committee is still holding onto its near zero interest rate policy.
(Update 1: Headline corrected 4:31 p.m. ET)