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  • Doesn't think Dodd-Frank as a whole is going to be repealed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