December 3, 2012 / 8:09 PM / in 5 years

Fed's Bullard: watching recent signs of economic weakness closely

LITTLE ROCK, Arkansas (Reuters) - St. Louis Federal Reserve President James Bullard said on Monday that he was still forecasting 3.5 percent economic growth next year, but acknowledged that recent signals of activity had been weak.

“I am concerned about it and we are watching the data very carefully,” Bullard told reporters after delivering remarks here. “Some of the tracking estimates of Q4 (fourth quarter) GDP (gross domestic product) are declining.”

He said the estimate for 3.5 percent growth in 2013 was based upon U.S. leaders safely avoiding a year-end fiscal cliff of tax hikes and spending cuts, and that he would have to revise his call down if they could not come to an agreement.

Reporting by Alister Bull; Editing by Chizu Nomiyama

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