Bullard says Fed closer to normal monetary policy

• Numerical thresholds worked very well
• First QE programs were aimed at spurring growth
• Inflation is about to head higher

I like James Bullard but I can’t make sense of these comments. Thresholds worked so well that they had to scrap them when they hit ahead of expectations. The first QE programs were put in to stop the US disappearing up its own butt. The same as went for Europe and the UK.