Fed's Bullard: Economic outlook is brighter

Reuters News
Posted: Mar 02, 2012 8:29 PM
Fed's Bullard: Economic outlook is brighter

WASHINGTON (Reuters) - St. Louis Fed President James Bullard said on Friday the U.S. economic outlook is brighter and that household confidence has improved.

He warned against trying to prop up struggling housing markets, as several Fed officials have suggested.

"It is not feasible or desirable to attempt to re-inflate the bubble," he said in remarks prepared for delivery at Simon Fraser University in Vancouver.

Discussing the Fed's monetary policy tools, Bullard said the central bank could decide to push back the date it expects to raise rates for the first time if it decides it needs additional monetary policy accommodation.

(Reporting by Mark Felsenthal; Editing by Jan Paschal)