St. Louis Federal Reserve President James Bullard said on Tuesday that he had be...
ST. LOUIS - St. Louis Federal Reserve President James Bullard said on Tuesday that he had been approached by the White House about a possible seat on the Federal Reserve Board of Governors, but said he would not consider leaving his current job.
“I have been approached on this. I am happy in my current position,” Bullard said in remarks to reporters ahead of an event at the St. Louis Fed. “I think these kinds of discussions are exploratory in nature and it’d be very unclear whether it would go any further.” Members of the Board of Governors are appointed by the president and are subject to Senate confirmation. The heads of the 12 regional banks are nominated by the directors of the local Fed boards and require no such confirmation.
Bullard, who currently holds a vote on the Fed’s rate-setting committee, said in comments to reporters that he felt the Fed should make an initial reduction of a quarter of a percentage point at an upcoming meeting, and make a second reduction later in the year. That, he said, would set the stage for an economic “soft landing” and help ensure continued growth into 2020.
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