James Bullard

Geography

In their time

Meetings by Chair

Bernanke58Yellen33Powell51

Policy rate

2.25% → 5.25–5.5%

+313 bp · Apr 2008 – Aug 2023

Seats held

• Reserve Bank PresidentSt. Louis2008–2023

  Apr 1, 2008 – Aug 14, 2023

Before the Fed

Economist · Federal Reserve Bank of St. Louis

Education

• Bachelor's, Economics/Quantitative methods/Information Systems — St. Cloud State University (1984)
• PhD, Economics — Indiana University (1990)

Terminal: PhD · economics

Dissents on the record (4)

• March 15–16, 2022wanted tightercommittee: hike 25

  President Bullard preferred at this meeting to raise the target range for the federal funds rate by 0. 5 percentage point to 1/2 to 3/4 percent in light of elevated inflation pressures.

• September 17, 2019wanted easiercommittee: cut 25

  President Bullard dissented because he believed that lowering the target range for the federal funds rate by 50 basis points at this time would provide insurance against further declines in expected inflation and a slowing economy subject to elevated downside risks. In addition, a 50 basis point cut at this time would help promote a more rapid return of inflation and inflation expectations to target.

• June 18–19, 2019wanted easiercommittee: hold

  Mr. Bullard dissented because he believed that the current stance of monetary policy could be better positioned to foster progress toward the Committee's statutory objectives of maximum employment and stable prices. Particularly in light of persistent low readings on inflation and from indicators of inflation expectations along with the risks to the U.S. outlook associated with global economic developments, he noted that a policy rate reduction at the current meeting would help re-center inflation and inflation expectations at levels consistent with the Committee's symmetric 2 percent inflation objective and simultaneously provide some insurance against unexpected developments that could slow U.S. economic growth.

Served alongside (670)