You can call James Bullard a naïve optimist. Go ahead, do it. You’d almost certainly be right, but he doesn’t care. He knows that everything’s going to work out perfectly, and that means that the people who actually get a say on these things—and who are saying he’s crazy—will come around and say, “Hey, that James Bullard really is a great guy. And all of the improbably wonderful things he said would happen did happen. Let’s give him the recognition he deserves with an interest-rate hike for Christmas.” Read more »
He’s sitting out the next couple of years of FOMC meetings, where at some point Janet Yellen & co. will decide to raise interest rates for the first time in eight years and counting. But St. Louis Fed President James Bullard has a feeling—admittedly not one widely shared—that things are just going so great that the inevitable is just seven to 10 months away. Read more »
Despite some people having it on good authority that the federal government shutdown isn’t actually a big deal, it must be noted that the stalemate is keeping federal prosecutors from doubling the number of Rajaratnams in jail. Read more »
The St. Louis Fed President and QE3-ophile‘s story is there’s still not nearly enough data to justify the dreaded taper, and he’s sticking to it. Do not ask him to be more specific for at least a few more months—or quarters. Read more »
Are you among the legions of pundits, Republican congressmen and Dallas Fed presidents who think it is well past high time for the Fed to stop buying so many bonds? Did you think, with last week’s better-than-expected jobs report and Fed doves running scared left and right, that the tide had finally turned? That at last there would be a beginning of the end to this dreadful program, as soon as next week?
Think again, because St. Louis Fed President James Bullard is making the case that quantitative easing could and possibly should go on for very close to forever. And unlike the increasingly unhinged Richard Fisher, he’s got a vote at the next couple of FOMC meetings. Read more »