Wednesday, October 27, 2010

The scariest phrase I read this morning

"We know how monetary policy works"

--James Bullard, President, St. Louis Fed


Peter G. Klein said...

I like Janet Yellen's comment from a 2009 speech: "I will be the first to say that it is always difficult to get monetary policy just right. But the Fed's analytical prowess is top-notch and our forecasting record is second to none. . . . With respect to our tool kit, we certainly have the means to unwind the stimulus when the time is right."

David said...

Yes, poorly.