I'm surprised at this but reading commentary from Bullard's interview on CNBC this morning one of his quotes says it all. Bullard sees the economy improving and thus thinks an early end (not just an end in June as originally suggested) is in order. Bullard has been the outspoken advocate for QE. Very interesting comment if in fact it's true. No reason to believe this is not a direct comment from him.
"Policy is a continuous process," he said. "I would see it as possibly finishing the program a little bit shy of where we intended initially then go on pause for a while, let more information come in on the economy, see how things develop.
"If things continue to go as well as I think they will in 2001 then we can start the process of getting the balance sheet back to normal and getting interest rates up there eventually."
"Policy is a continuous process," he said. "I would see it as possibly finishing the program a little bit shy of where we intended initially then go on pause for a while, let more information come in on the economy, see how things develop.
"If things continue to go as well as I think they will in 2001 then we can start the process of getting the balance sheet back to normal and getting interest rates up there eventually."
Won't happen unless Ben agrees. And I doubt that is the case.
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