NEW YORK Feb 12 The Federal Reserve will
probably have to return to more "traditional" policy-making now
that the U.S. jobless rate has fallen to 6.6 percent, so close
to the U.S. central bank's existing threshold for considering an
interest-rate rise, a top Fed official said on Wednesday.
St. Louis Fed President James Bullard, speaking on a panel
at the New York Stock Exchange, said he expects the Fed to
adjust its so-called forward guidance and have to "make more
qualitative judgments" on when to tighten policy.
As it stands, the Fed has said it expects not to raise
benchmark rates until well after the unemployment rate falls
below 6.5 percent, especially if inflation remains below target.
Joblessness has fallen to 6.6 percent last month from 7.9
percent a year earlier - a drop Bullard called "dramatic."