Fed's Bullard: Current level of Fed rates appropriate

Speaking in London on monetary policy

Fed's Bullard (Nonvoting member, dove) is in London speaking on market policy.

He says:

• Current level of Fed rates appropriate
• Small effect on inflation if unemployment falls
• Weak inflation data questions rise to 2%
• Low unemployment is probably not an indicator of meaningful higher inflation over the forecast horizon
• Recent inflation data has surprised as the downside
• Calls into question the idea that US inflation is reliably returning toward the target

Bullard made similar comments on June 23rd.