- Opposed to QE3
- Will make challenges of exit strategy worse
- QE3 probably won’t be effective
- Labor markets to improve only gradually
- Policy poses risks to inflation in the longer-run
- Sees 2% growth this year, 3% next
- Labor market frictions, structural adjustments holding back employment; monetary policy can’t help
Amen, Bother Plosser. Could not have said it better myself.
