Fed's Bullard: We don't see recession risk likely in the near term

Federal Reserve Bank of St. Louis President James Bullard crossed the wires last minutes during an interview on Wharton Business Radio, noting that the Fed can't influence US productivity growth rate.

Key Quotes (via Reuters):

• The dollar's effect on US growth over-emphasized in the past two years
• 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