It's almost over...
- Sees September as the start of balance sheet unwind
- Sees inflation going to 2% and staying there
- Prudent to do balance sheet at a press conference meeting
- He repeats Fed should hold press conference after every meeting (*he has a point there).
- Fed overly hawkish with regard to future policy.
- With low and negative rates around the world, hard for US to have yield curve dramatically above foreign rivals (*he has a point there too).
- Policy makers need to be aware that types of threats can arise and lead to financial crisis.
