WASHINGTON, Feb 19 (Reuters) - The United States’ economic outlook remains good even if bad weather took a toll on growth at the end of 2013 and early 2014, a top Fed official said on Wednesday.
St. Louis Fed President James Bullard said he found the argument that weather was behind a recent run of soft data to be “compelling” and said he expected signals to pick up between March and May.
“I think a lot of this (softness) will come back out as we get into better weather patterns,” he told journalists after a speech at the Exchequer Club.
Minutes of the Fed’s last policy meeting showed some policymakers suggested risks to financial stability should feature more prominently in the Fed’s guidance on future policy moves.
Bullard said he would not want to pre-judge a decision on including financial stabiity in the guidance. He said his preference would be to move away from specific numerical thresholds and move back to a stance where the Fed just said it was looking at incoming data.