PALM BEACH, Fla., June 9 (Reuters) - St. Louis Federal Reserve Bank President James Bullard said on Monday the falling U.S. unemployment rate, together with other encouraging economic data, could prompt him to move forward his view on when interest rates should be raised.
Bullard, who has been projecting a rate rise late in the first quarter of 2015, said he might shift his view if a reworking of the St. Louis Fed’s forecasts suggest U.S. gross domestic product is poised for 3 percent growth, with the unemployment rate moving lower and employment continuing to grow at its recent pace.
“Now that we have the new jobs report, my guys are putting together the forecast for the year and so we’ll see if that changes,” he told reporters after remarks at an event on Monday.
“It’s possible that we’ll recalibrate based on the most recent data. We’ll see.” Bullard said he would discuss the matter with St. Louis Fed staffers this week, in preparation for the next policy-setting Federal Open Market Committee meeting this month. (Reporting by Michael Flaherty; Editing by James Dalgleish)