U.S. Federal Reserve Bank of St. Louis (St. Louis Federal Reserve Bank) Bank President James Bullard said Thursday evening, in view of the short-term U.S. federal funds at a very low level of interest rates has been further interest rate cuts on economic recovery of the weak may help Limited.

At present, the federal funds target rate to 1 percent, the financial futures market is expected the U.S. Federal Open Market Committee (FOMC) will be held on December 16 monetary policy meeting will again cut benchmark interest rates by half a percentage point to 0.5 percent.

As the financial markets to inject a lot of liquidity, the actual overnight federal funds rate has been far below the FOMC's target rate.

James Bullard in a regional economic summit that both FOMC decided to maintain interest rates unchanged or further relaxation of monetary policy and interest rates remain at low levels even more (even down to zero interest rates), perhaps not the most critical issues .

Bullard said the solution to the current turmoil in financial markets is an important component of the intervention will come from fiscal policy.