Interesting that the father of QE2 sees inflation risks from LTRO

St. Louis Fed president Bullard tends to be a moderate hawk, so it was big news in the summer of 2010 when he began to advocate QE2.

He seems to have thought better of it, now opposing further QE and even scolding the ECB over the inflationary potential their LTRO program.

I’d love to know what he saw in 2010 that spooked him into the QE camp…