St. Louis Federal Reserve Chairman James Bullard has outlined his risks to the U.S. economy in a speech this morning, and detailed what he wants to see in terms of an exit strategy from the Fed’s current easy money policies.
The speech, made in Prague, points out four sources of instability impacting the U.S. economy right now:
- The crisis in Japan
- Chaos in the Middle East impacting oil prices
- U.S. fiscal situation
- European sovereign debt crises
Nevertheless, Bullard wants to see the U.S. gradually move to end its quantitative easing program, and reportedly said he could see the current program cut short by $100 billion. His comments come just days after Fed President Plosser outlined a comprehensive exit strategy for the Fed.
We have the notes from his presentation below, including why Bullard feels now is the time to discuss a Fed exit strategy.
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