James Bullard comments on the Fed’s dual mandate. Mr. Bullard has been a proponent of quantitative easing 2.0. One may wonder why he favors another round of money printing after hearing him rightly explain that the Fed cannot create jobs. I repeat the Fed cannot create jobs. The only thing the Fed can do is provide price stability. With inflation near zero, what exactly is the purpose of injecting another $600 billion in high powered money into the banking system?
The following two tabs change content below.
Jeremy Jones, CFA
Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.
Latest posts by Jeremy Jones, CFA (see all)
- Grantham’s GMO says U.S. Stock Bubble is Busting - January 18, 2019
- Is a Shaky Outlook for Aluminum a Shaky Outlook for the Global Economy? - January 17, 2019
- Is Indexing Hurting Competition? - January 16, 2019