St. Louis Fed President Sees Recovery by 2010

St. Louis Fed President and CEO Dr. James Bullard was on FOX Business Network talking about the Central Bankers Conference at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming. In the interview Dr. Bullard touches on some global and domestic economic issues, implications, and policy options pertaining to the economy and how the system of production & distribution remains on track for 3Q and 4Q GDP growth. Dr. Bullard also talks about people being cautiously optimistic that the worst of economic crisis is over. However, he is quick to point out that while consumer spending, which makes up 70%+ of GDP, will recover, the uptrend toward normal levels will be a slow and gradual one. Bullard also said during his interview that the Fed policy exit still lies in the future, and that 2010 is the time to worry about inflation while making sure first that deflationary pressures are kept in check.