The Bullard-train gets rolling
St. Louis Fed President James Bullard loves to give a speech but he’s really out-doing himself today.
He just started a speech in Kentucky, will give a second one at 3:15 ET (1915 GMT) and will speak to the media at 4:40 ET (2040 GMT).
His first comments are on inflation, saying it ‘hasn’t materialized so far’ but that he sees ‘a lot of risk going forward’.
- There has not been much indication so far that inflation is ticking back up toward the 2% target
- Important for Fed credibility that 2% target is hit, inflation running low
- Doesn’t see ‘much evidence’ of impact from sequester
- US should think about shrinking too-big-to-fail banks
- Sees Japan as a ‘huge monetary policy experiment’