The Korean won extended losses after Bullard’s comments, trading down 0.9 percent against the dollar as of 0142 GMT. The dollar rallied against Asian currencies early on Monday after the revised GDP data and on Fed Chair Janet Yellen’s comments on Friday that a rate hike in the U.S. Meanwhile, Bullard noted he had been critical of the Fed’s "dot plot" summaries of policymakers rate outlooks recently, saying they may be giving too much forward guidance, removing the Fed’s ability to make data-dependent decisions. "My hope is that neither campaign is interested in politicising the Fed." "I don’t think a change in the White House either way will affect Fed policy," he said. presidential candidate Donald Trump would bring change to monetary policy if elected, Bullard said the Fed was independent and did not follow any particular political prescription. Responding to the GDP data, economists said strong income growth, together with signs the economy was picking up steam in the second quarter, could give the Federal Reserve ammunition to raise interest rates as early as next month.Īnswering a question on whether he thought U.S. His comments followed revised data on Friday that showed first quarter growth in the U.S.
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