i found mr Bullard presentation almost entertaining and i am saying this respectfully. A very comprehensive lecture on the Taylor rule and what it was and is signalling in terms of policy actions. then you go back to slide 6 of his deck and you wonder "what were you guys doing for at least 8 months when inflation clearly took off and you didn't do anything?" you are right: do we have a rule based FED or a totally discretionary FED? they will never tell us...Lastly, i wonder how QT is factored in the Fed's decision making because if QE was contributing to lower rates then QT should have at least a symmetrical impact...
i found mr Bullard presentation almost entertaining and i am saying this respectfully. A very comprehensive lecture on the Taylor rule and what it was and is signalling in terms of policy actions. then you go back to slide 6 of his deck and you wonder "what were you guys doing for at least 8 months when inflation clearly took off and you didn't do anything?" you are right: do we have a rule based FED or a totally discretionary FED? they will never tell us...Lastly, i wonder how QT is factored in the Fed's decision making because if QE was contributing to lower rates then QT should have at least a symmetrical impact...