Econ Note: Fed President James Bullard Says Global Recovery Looks Strong
Bullard said "the macroeconomic recovery in the U.S. remains on track and may be complete in the third quarter." Bullard, a voting member of the Federal Reserve's interest rate setting committee, also called on the federal government to pare its budget deficits.
"Now that the U.S. economy is about to achieve recovery in GDP terms, it is time for fiscal consolidation in the U.S," Bullard said. "Irresponsibly high deficit and debt levels are not helping the U.S. economy and could damage future prospects through a loss of credibility internationally," Bullard said.