Bullard spoke on Wharton Business Radio
- The dollar's effect on US growth over-emphasized in the past two years
- We don't see recession risk likely in the near term
- The Fed can't influence US productivity growth rate
- The right time to move rates is after good economic news
- Continues to see just one rate increase in next few years
- Cyclical dynamics in economy are basically over
He said the current regime is characterized by low growth, low productivity and low rates of return on real government debt.
He thinks "the regime will persist so the policy rate can stay about flat over the policy horizon with just one rate increase."
