President Bullard Speaks on Oil Prices and Inflation While on Multi-Stop Tour of Memphis

01/14/2016

James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, addressed the Economic Club of Memphis on Jan. 14. In his presentation, he discussed the decline in crude oil prices and whether it is a bullish factor for the U.S. economy. He also said that headline inflation in the U.S., which is currently very low, will return to the Fed's 2 percent target once oil prices stabilize. Later, he met with area education and business leaders and toured the Nike distribution center, the Start Co. business incubator and Bass Pro. Before ending his visit on Jan. 15, Bullard met with the board members of the Memphis Branch of the St. Louis Fed. Accompanying Bullard throughout his visit was Douglas Scarboro, the regional executive of the Memphis Branch of the St. Louis Fed.

David Waddell, president of the Economic Club, presented St. Louis Fed President and CEO James Bullard with a book about famous people from Memphis. Waddell is president and CEO of Waddell and Associates Inc., a wealth management firm.
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Douglas Scarboro, regional executive of the Memphis Branch of the St. Louis Fed, conferred at the Economic Club speech with Demetri Patikas (left), founding president of Duncan Williams Asset Management, and Luther Mercer (right) of the Tennessee Charter School Association.
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Scarboro (right) with David Rudd, president of the University of Memphis. Rudd and other leaders of area universities and colleges met with Bullard, Scarboro and other Fed representatives.
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At the Nike distribution center, Bullard (left) and Scarboro (right) met with Willie Gregory, director of community and business investment at Nike.
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Past and current members of the Memphis Branch's board of directors joined Bullard, Scarboro and others on a tour of Bass Pro before heading into meetings.
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