- calendar based commitments can be unsound
- can led to market instability by encouraging overshooting, as some markets appear to be at present
- economic models largely guesswork
- there is currently a “rabid” focus on FOMC projections
- at current rate of taper QE3 will end in October
Dallas Fed president Richard Fisher speaking in Hong Kong
- it’s clear that US has liquidity pool sufficiently deep and wide finance job-creating capital expansion
Nothing ground breaking. Markets unfazed but worth noting as he votes on monetary policy this year
