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Fed's Bullard: Chances of a June hike much lower

James Bullard, president of the Federal Reserve Bank of St. Louis
Chris Goodney | Bloomberg | Getty Images
James Bullard, president of the Federal Reserve Bank of St. Louis

It's a "fair assessment" that the chances of a June rate hike are now much lower, St. Louis Federal Reserve President James Bullard told The Wall Street Journal on Monday.

Following a startlingly weak jobs report last Friday, Bullard told the Journal that he would rather the Federal Reserve raise rates on the back of positive economic news. Still, he said that he maintains an open mind and won't "prejudge" the outcome of the June FOMC meeting, wherein central bank members will decide whether to adjust the Fed's interest rate target.

In fact, Bullard told the Journal that it remains "possible" for the Fed to hike rates in July.

CME's FedWatch tool said Monday morning that the probability of a rate hike was about 6 percent for June, and 37 percent for July.

For more on Bullard's comments, see the story in The Wall Street Journal.