June rate hike now less likely, but a move in July is possible, Fed´s Bullard says

The odds of the US central bank tightening policy again when its rate-setters next met had decreased after the release on 3 June of an "underwhelming" jobs report, the president of the Federal Reserve bank of Atlanta said.

He also believed it was better to move on interest rates after the release of good news on the economy and not the oppossite.

Nonetheless, in the same interview with The Wall Street Journal Bullard added: "I do want to keep an open mind" and "I don’t want to prejudge the meeting."

Bullard was speaking on the last day before the 'quiet period' on policy-related remarks by officials kicked in ahead of the next Federal Open Market Committee meeting, on 15 June.

The central banker also said people needed to focus on the entirety of the most recent monthly jobs report.

America´s labour market had been "improving for a long time" and it might be that the days of 200,000-a month jobs gains was now over.

“But that’s OK,” he said.

In his interview, the central bank official also called on the Federal Reserve to be nimbler in its use of 'windows of opportunity' resulting from positive economic news to hike rates.

With that in mind, he backed scheduling press conferences with Fed chair Janet Yellen for every meeting.

Lastly, Bullard said a move on rates in July was possible and reiterated his stance that the Brexit referendum on 23 June was unlikely to be much of an issue for the US economy.

“This July meeting has gotten more attention. It’s possible we could move there, and that would kind of placate my concerns over this issue.”