- Fed asset buying effects around the world no different than others monetary easing
- Can’t have others around the world calling the shots on the Fed’s mandate
- No Bernake put, just ordinary policy stabilization
- Bigger businesses in St. Louis district are expanding abroad rather than the US. This is a concern
- Regulatory uncertainty halting buiness investment; must get details out quickly
- Monetary policy can’t solve all economy’s problems
- Fed must be flexible to adjust QE on both sides
Bullard has become a thought-leader on the Fed and one worth paying attention to…Bullard flipped from moderately hawkish to quite dovish in recent months, helping usher in the introduction of QE2.