Bullard: Right Moves Could Lower Unemployment

The unemployment rate in the United States could significantly decline over the coming months if proper policies are adopted, according to the President of the Federal Reserve Bank of St. Louis, James Bullard.

Bullard remarks came following remarks by his Richmond counterpart that “there is a complicated brew of what’s happening on unemployment.”

The Bullard remarks came during a webinar organized by the Economic Club of New York, MarketWatch reported.

“So this suggests that there’s a lot of room, if we play our cards right, to get the unemployment rate way down.”

“We are certainly past the initial phase of the crisis but the crisis is persistent.”

“We need better execution of a granular risk-based health policy that will be critical to keep the economy out of depression.”

“My base case is that we will be able to accomplish this in the next six months and come back to a more normal-looking US economy.”