James Bullard, President and CEO of the Federal Reserve Bank of St. Louis:
- Fed behind schedule on raising rates as QE3 nears end
- Inflation running ‘somewhat below’ Fed’s 2% goal
- QE3 bond buying more successful than expected
- Jobless rate drop far better than expected in September
- Lift-off in q1 2015 would show considerable patience
- Rate normalization far behind path seen at QE3
- Q1 2015 lift-off well past policy rule prescriptions
more to come
- He will be taking questions from the audience
- After that there will be a press briefing.
