St. Louis Fed President Bullard says the FOMC need not be ‘in any hurry’ to taper QE and that the Fed should take its time when assessing QE taper.
Bullard dissented at the June FOMC because of disinflation concerns.
Update: Bullard adds that QE3 has been very successful in easing market conditions but the effect on the economy has been less clear.
That comment speaks to the academic debate on the effectiveness of QE that’s the underlying focus at Jackson Hole. I wouldn’t say conditions were tight at the start of QE3.
