Federal Reserve Chairman potential candidate Bullard: If elected, will seek to break the "groupthink"
Former President of the Federal Reserve Bank of St. Louis, James Bullard, stated that if elected as Chairman of the Federal Reserve, he would seek to break the "groupthink." He believes that Congress will not consider revising the Federal Reserve Act, and the candidate interview process of the Trump administration is ongoing. Bullard's remarks led to the S&P 500 index giving up its gains, the Nasdaq 100 index turning negative, while the yields on both the 10-year and 2-year U.S. Treasury bonds declined
Former President of the Federal Reserve Bank of St. Louis, James Bullard, stated that he believes Congress will not consider revising the Federal Reserve Act. (If) he were to become the Chairman of the Federal Reserve, he would seek to break the "groupthink." The U.S. President is free to express views on FOMC monetary policy. Recent media reports indicate that Bullard is included in Trump's list of candidates for Federal Reserve Chairman. As Bullard spoke, the S&P 500 index nearly completely reversed its earlier gains for the day; the Nasdaq 100 index turned negative. The yield on the U.S. 10-year Treasury bond fell by 6.4 basis points, refreshing the daily low to below 4.225%; the yield on the two-year U.S. Treasury bond fell by 6.5 basis points, refreshing the daily low to below 3.667%.
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