If the recent slowdown in the U.S. economy turns out to be more than just the weather, St. Louis Fed President James Bullard would still be unlikely revise his forecasts for the year.
"Even if you proved to me that it had nothing to do with the weather, I think the outlook would still be pretty good for 2014. I would still project that 2014 would have stronger GDP growth than 2013 did." Bullard told CNBC's "Squawk Box" on Friday.
Looking ahead to next week's February U.S. employment report, he predicted a faster drop in the jobless rate than other Fed policymakers are forecasting. He sees the jobless rate falling below 6 percent by the end of the year. He also believes the decline in the labor force participation rate—which generally refers to the percentage of people employed, or unemployed and actively looking for a work—is a trend, not a cyclical development.
The unemployment rate dipped slightly to 6.6 percent in January, even as nonfarm jobs grew a slower-than-expected 113.000