November 20, 2013
If the FOMC is going to change its forward guidance at all, St. Louis Fed President James Bullard said his preference would be to add an inflation floor. This would be a promise to keep rates low as long as inflation was below some level—for instance, 1.5 percent, which would make it symmetric with the threshold on the high side of the inflation target. Bullard's comments were during Bloomberg's "The Year Ahead: 2014" conference.
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President and Chief Executive Officer
Executive Assistant to the President
Senior Vice President and Chief of Staff to the President
Cletus C. Coughlin
Senior Economist and Special Assistant to the President
"Rationally, let it be said in a whisper, experience is certainly worth more than theory."