FED'S BULLARD: I don't think the market volatility will change our outlook for the US economy

St. Louis Fed president James Bullard was on Bloomberg TV Friday morning and the most important part of his interview didn't make it on the air.

Bullard spoke with Bloomberg TV from the Kansas City Fed's Jackson Hole symposium Friday morning, and following the interview said that the Federal Reserve, "does not like to move when there's volatility," according to Bloomberg's Matt Boesler.

This comment follows an interview during which Bullard implied that the recent volatility in financial markets would not impact the Fed's view on the US economy.

"The US outlook still looks very good," St. Louis Fed President James Bullard told Bloomberg on air.

"The key question for the committee is how much would you want to change the outlook based on the volatility we've seen over the last 10 days. And I think the answer to that is going to be not very much."

Bullard, it should be noted, is not a voting member of the Federal Reserve's Federal Open Market Committee, or FOMC, which makes decisions about monetary policy. The next Fed meeting is scheduled for September 16-17, with the Fed's latest monetary policy decision and a press conference with chair Janet Yellen set for the afternoon of the 17th.

Over the last month, markets have been debating whether the Federal Reserve will move to raise interest rates for the first time since July 2006 at its September meeting.

Market expectations have essentially priced out that possibility, and the recent turbulence seen in US markets has cast further doubt on whether the Fed would look to make a change in its policy stance amid the rockiest markets seen in years.

A theme that has consistently come up over the last month is the slowing of the Chinese economy, though Bullard said this is a concern that has been around for years and has likely been priced into markets.

But whether US markets have priced in China or not, markets have been particularly volatile in the last month, something that in Bullard's view will not make the Fed eager about raising interest rates.

(Reporting by Jason Lange in Washington; Editing by Chizu Nomiyama)