Bullard answering questions after speech:
- Willing to adjust rate timetable based on data
- Swiss economy to small to affect the US
- Contacts in his district optimistic on housing
- Zero rates for an economy too low for an economy near normal
- Repeats Fed should raise rates at the end of Q1
The SNB didn’t win any fans this week but it will be much worse if there’s any hint that the news leaked into the markets in advance. By not telling the Fed, at least they mitigated some of that risk.
