Fed’s Bullard says he was approached about possible Fed board seat

FILE PHOTO: St. Louis Fed President James Bullard speaks about the U.S. economy during an interview in New York
FILE PHOTO: St. Louis Fed President James Bullard speaks about the U.S. economy during an interview in New York February 26, 2015. REUTERS/Lucas Jackson

June 25, 2019

ST. LOUIS (Reuters) – St. Louis Federal Reserve President James Bullard said on Tuesday that he was approached by the White House about a possible seat on the Federal Reserve Board of Governors, but said he would not consider leaving his current job.

Bullard said the conversations occurred “in recent months” as President Donald Trump pressed the Fed to reduce interest rates and considered candidates for two open board seats. Bullard has also made the case for lower rates, and at the central bank’s most recent meeting he dissented from the decision to leave rates unchanged.

“I have been approached on this. I am happy in my current position,” Bullard said. “I think these kinds of discussions are exploratory in nature and it’d be very unclear whether it would go any further.”

(Reporting by Howard Schneider; Editing by Leslie Adler)

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