- 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