MNI BRIEF: Fed's Bullard Says Too Soon to Talk Taper Timing

It's too soon for the Federal Reserve to begin talking about the timing of a reduction in the central bank's monthly USD120 billion asset purchases despite strong prospects for a second half economic rebound, St. Louis Fed President James Bullard told reporters Wednesday.

"It's still too early to initiate that discussion," he said. "I look for the leadership of the chairman for when to begin that discussion."

Bullard also downplayed concerns that low Fed interest rates may be sparking a stock market bubble.

"I'm not really seeing that right now," he said. "Fed policy has been appropriate given the crisis that we're in. It's helped stabilize the economy and put the economy on a recovery path. I think all of that has been taken on board by Wall Street and they're hopeful for companies' profitability in 2021 and beyond, and they are pricing appropriately."