Fed feeling less confidence on fiscal stimulus
After the election it was a rush to bet on Congressional spending but the second thoughts continue. About half of the Federal Reserve governors/presidents added to their forecasts based on expectations of fiscal stimulus. That may have been premature.
Other comments:
- We will focus on getting inflation to 2%
- Doesn't think Dodd-Frank as a whole is going to be repealed
- There are many aspects of Dodd-Frank that are very important