January 14, 2016 / 3:30 PM / 3 years ago

Fed's Bullard says weak commodities more about supply than demand

MEMPHIS (Reuters) - The rout on global commodity markets is not a reflection of weak global demand as much as a predictable supply response to rising prices, St. Louis Federal Reserve President James Bullard said on Thursday.

Markets interpreting the fall in oil as a reflection of a weak global economy are overreacting, he said.

“I would not give it as much credence as markets. Only a small component of the movements in commodities can be attributed to global demand,” he said.

Reporting by Howard Schneider; Editing by Andrea Ricci

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