US STOCKS-Wall St dips on Fed's Bullard comments on interest rates
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By Angela Moon
NEW YORK, June 26 (Reuters) - U.S. stocks fell on Thursday following comments from a top Federal Reserve official that interest rate increases should come sooner rather than later.
St. Louis Fed President James Bullard said the U.S. jobless rate will fall below 6 percent and inflation looks likely to rise back to 2 percent later this year, putting the economy closer to normal than most realize. Bullard is non-voting member of the FOMC.
"You are basically going to be near normal on both dimensions basically later this year," Bullard said in an interview with Fox Business Network. "That's shocking, and I don't think markets, and I'm not sure policymakers, have really digested that that's where we are."
Bullard reiterated his belief that raising rates by the end of the first quarter of 2015 will be appropriate. Continuación...