• Dissented last month over Fed defence of inflation goal
  • Many forces slowing down US economy are waning
  • Has supported policy of open-ended QE

In case you were unaware both Bullard and Plosser are speaking at the Jackson Hole conference that Bernanke knocked back.

With hindsight that was probably a very wise decision. Can you imagine the carnage if he’s spoken at this time of the day on a Friday?

  • Evidence on current economy is mixed. Cannot justify rise in bond yields on basis of better US data
  • MArket reaction to Bernanke after FOMC substantial even though Fed did not change policy
  • Says that ECB deploying forward guidance may support EZ economy which is bullish for US