U.S. Markets

Fed's Bullard: Last "taper" debate no guide what's needed in current period

FILE PHOTO: St. Louis Fed President James Bullard speaks about the U.S. economy during an interview in New York February 26, 2015. REUTERS/Lucas Jackson

WASHINGTON (Reuters) - The Fed’s methodical rundown of its bond purchases after the last economic crisis is no guide to how it should proceed this time given a more volatile inflation environment and a booming economy, St. Louis Fed president James Bullard said on Monday.

“The playbook from the aftermath of the global financial crisis may not be the same one we use in the aftermath of the pandemic,” Bullard said. “I don’t think we are in the quiescent, low volatility period we were in the aftermath of the global financial crisis. Instead we are in a high volatility many things happening at once situation and because of that we have to be able to react.”

Reporting by Howard Schneider; Editing by Chizu Nomiyama