Fed's Bullard: sticks with call for single rate hike in 2016 & 2017

St. Louis Fed's President James Bullard crossed the wires last minutes, saying that he sees one rate hike over the next two years, which is not dissimilar from his previous comments. Also, states that Fed policy remains data-dependent.

Key quotes, via Reuters:

• No reason to seeing US economy heading for recession
• Risk may be to upside 
• Regards steady target rate of 63 basis points as appropriate until conditions change
• Repeats call for a set of possible 'regimes' that the economy may visit, abandoning concept of single, long-run steady state