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.