Fed’s Bullard: March FOMC marked the end of policy normalization

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St. Louis Fed President James Bullard, speaking about the economy and monetary policy in Mississippi, said that the Fed needs to tread carefully to sustain expansion and March FOMC marked the end of policy normalization.

Additional quotes:

   •  Market-based inflation expectations point to inflation being below the Fed’s target in 2019 and in next 5 years.
   •  Treasury curve has flattened significantly. Meaningful, sustained inversion would send a bearish signal.
   •  Changes to monetary policy will owe to new data and not normalization strategy.

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