James Bullard: Rates Are Not Going Anywhere

St. Louis Federal Reserve President James Bullard said that the Federal Reserve is likely to keep rates on hold after the end of QE2 in order to evaluate how strong the economy is.

Speaking in Missouri, Bullard said, "Past behavior of the Federal Open Market Committee indicates that the Committee sometimes puts policy on hold." Bullard said rates are likely to say low for an "extended period."

Bullard repeated his calls for the Fed to end its use of core inflation, as he feels it does not capture enough. Bullard went on to say, "it is at least a reasonable hypothesis that global demand for energy will outstrip increased supply over the coming decades."