St. Louis Federal Reserve President James Bullard said monetary policy is currently about right for the economy, but weak inflation and other factors mean the Fed doesn't need to raise rates further. Bullard said that "maintaining the current level of the policy rate would be an appropriate policy." Bullard downplayed the use of interest rates to guard against financial stability problems, saying that stronger regulation put in place by Dodd-Frank fills the gap. He also suggested that it can no longer be inferred that low employment will cause inflation.
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