Fed's Bullard: Need productivity growth in the U.S.

Adding to his earlier comments, St. Louis Federal Reserve (Fed) President James Bullard said that the economy was slowing but "not terribly" in an interview with CNBC and added that they needed productivity growth in the U.S.

Key quotes

• We've done the normalization that we can do.
• Probability of recession in U.S. has ticked up because the yield curve has nearly inverted.

Source: Reuters.