Fed’s Bullard: Part of US economy might be overvalued

In a brief appearance early Thursday, St. Louis Federal Reserve President James Bullard noted that a “part of the US economy might be overvalued.“

Commenting on the US economy on Wednesday. Bullard said, it “will continue to grow above trend this year and next.”

Earlier this week, he called on for a dramatic increase in the Fed’s overnight lending rate to more than 3% this year.

Market reaction

The US dollar index has caught a sudden bid wave last minutes, with no major catalyst seen so far.

The gauge has jumped to 98.77, up 0.20% on the day.

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