July 1, 2016
Regarding the St. Louis Fed’s new characterization of the U.S. macroeconomic and monetary policy outlook, President James Bullard explained that the St. Louis Fed wanted to break down the idea that the economy was converging to a steady state. One way to do that, he said, is to think of the economy in terms of a set of possible regimes. Appropriate monetary policy would then depend on the current regime.
For more on this topic, see his speech in London on June 30, 2016, “A New Characterization of the U.S. Macroeconomic and Monetary Policy Outlook.”
More from the interview:
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."