St. Louis Federal Reserve President James Bullard told CNBC on Friday that interest rates are at a good level to "set us up for a good couple of years."
Bullard, a voting member on the central bank's policymaking Federal Open Market Committe this year, said on "Squawk Box" that he's pleased with the Fed's "patient" stance. He's been saying for a while it's time to pause.
He said it's time wait and see how the economy develops before taking any more action on the cost of borrowing money.
Bullard appeared on "Squawk Box" after the government reported much stronger-than-expected January jobs growth. However, he called the numbers backward-looking.
Slowing U.S. economic growth is not necessarily negative, he said.
He said the Fed is out of the business of penciling in expected rate moves without seeing and evaluating the economic data, which globally is not as good as he hopes.
China is growing more slowly than anticipated, he said.
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