BOSTON (Reuters) - The U.S. economy looks on track for a strong upturn but the Federal Reserve should still wait for solid evidence this is really under way before taking monetary policy action, one of its top officials said on Friday.
“I think we are poised for good growth. But boy, I want to see the numbers. I don’t want to base it on a forecast,” St. Louis Fed President James Bullard told an audience after delivering a speech at a financial conference.
“I think the corporate sector is actually in good shape and I do think there is a lot of potential in the U.S. economy,” he said, describing the United States as an “island of stability” from the weakness in Europe and slower growth in emerging markets, including China.
Reporting by Alister Bull; Editing by James Dalgleish