Fed's Bullard: Fed doesn't need to do much now on interest rates

Fed's Bullard noting the recent correction on Wall Street argued that it was predictable and remains dovish.

Bullard added:

• Fed doesn't need to do much now on interest rates.
• Valuations look high compared to historic norms.
• Fed dot plot may be less useful now.
• Let's wait and see if faster growth actually happens.
• Market selloff was fast, possibly aided by technical trading.
• Nominal wages aren't a good predictor of inflation.