July 14, 2016 / 11:37 PM / in a year

Fed's Bullard says coherent immigration policy would benefit U.S.

St. Louis Federal Reserve President James Bullard speaks at a public lecture on "Slow Normalization or No Normalization" in Singapore May 26, 2016. REUTERS/Edgar Su/File Photo

ST. LOUIS (Reuters) - A coherent, economically-oriented immigration policy would benefit the U.S. economy greatly and could lift it from the slow-growth rut in which it is currently stuck, a top Federal Reserve official said on Thursday.

St. Louis Federal Reserve Bank President James Bullard told reporters that there’s “no rush” to raise U.S. interest rates, and repeated his view that he sees only one rate rise needed in the coming two and half years if U.S economic and productivity growth stay as slow as they are now.

Reporting by Ann Saphir; Editing by Diane Craft

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