Fed deserves some blame for market selloff: Bullard

WASHINGTON (MarketWatch) - The Federal Reserve deserves some blame for the market selloff in the wake of its first interest rate hike in almost a decade in December, said St. Louis Fed President James Bullard on Thursday. In an interview on CNBC, Bullard said that Fed Chairwoman Janet Yellen and her colleagues were not at fault. Rather, it was the U.S. central bank's prior rate hike cycle from 2004-2006, he said. During that cycle, the Fed mechanically hiked rates at every meeting for 17 straight meetings. This convinced investors that, after the December move, the Fed was a "freight train"......(read more)

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