Fed’s Bullard suggets QE3 on a meeting-by-meeting basis, if needed

Now there is a novel idea…

If we did do QE3, then I’ve advocated that we do it on a meeting-by-meeting basis and we add to our purchases based on the conditions at the particular meetings and that we not commit to a long string of purchases that may not fit the way the data evolves going forward.But there’s other possibilities for policy action. We could lower the interest rate on excess reserves. We could do an operation “twist” where we substitute longer bonds for shorter notes and bills. We can make a commitment on the size of the (Fed’s) balance sheet.

Bullard spoke in an interview with Nikkei.