February 14, 2013 / 7:11 PM / 6 years ago

Fed's Bullard: raising minimum wage will mean fewer people hired

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

STARKVILLE, MS. (Reuters) - St. Louis Federal Reserve President James Bullard said on Thursday that raising the U.S. minimum wage, as President Barack Obama urged earlier this week, would likely mean fewer people being hired.

“As an economist, I’m all for ‘let’s let the markets determine the wages’,” he said in response to an audience question after delivering a speech here. “I think a lot of the analysis says that raising the minimum wage says there will be less people hired.”

Reporting By Alister Bull

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