- QE risk can support GDP if risks are adequately managed
- More analysis need
- Risks from QE include potential interference with financial stability (polite way of saying beware of bubbles)
- Fed could distort markets if their presence becomes too large (ya think?)
- Expects continued moderate economic growth over next two years
- Expects very slow improvement in jobless rate
Pianalto is the President of the Cleveland Fed and is one of the least talkative of FOMC members.