Another U.S. interest rate hike "may not be far off" after the Federal Reserve stood pat last week and made only minor downgrades to economic forecasts, St. Louis Fed President James Bullard said on Thursday.
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Bullard, who voted to support the March policy decision, noted in a speech that the labor market had improved since December. "As it turns out, the decision to pause seems to have put more weight on the global and U.S. growth downgrade," he said in prepared remarks.