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Fed's Bullard: monetary policy cannot save U.S. from fiscal cliff
December 3, 2012 / 7:36 PM / 5 years ago

Fed's Bullard: monetary policy cannot save U.S. from fiscal cliff

President and CEO of the Federal Reserve Bank of St. Louis James Bullard poses during an interview at the Federal Reserve Bank of St. Louis June 8, 2011. REUTERS/Peter Newcomb

LITTLE ROCK (Reuters) - St Louis Federal Reserve President James Bullard said on Monday monetary policy would not be able to offset the impact on the country’s economy if U.S. leaders are unable to avoid the tax hikes and spending cuts of the so-called year-end fiscal cliff.

Bullard told an audience after remarks that the hit to the U.S. economy would be “just too big” for the Fed to be able to fully ease the impact on growth.

Reporting by Alister Bull; Editing by James Dalgleish

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