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Fed's Tarullo: "Considerable uncertainty" about "how robust growth will be in 2010"
Calculated Risk —
From Fed Governor Daniel Tarullo: In the Wake of the Crisis Turning first to the economic outlook, let me begin by stating the obvious: After a period in which there seemed to be only two plausible scenarios--very bad and even worse--financial and economic conditions have steadied. ... As we closed out the third quarter last week, it was apparent that economic growth was back in positive territory. ... This turnaround is certainly welcome, but it should not be overstated. Although we can expect positive growth to continue beyond the third ...
Open Mouth Operations
self-evident —
... by Richard “speed and intensity” Fisher (speech), Charles “Great Inflation” Plosser (speech), Jeffrey “show stopper” Lacker, and Thomas “sooner rather than later” Hoenig (speech).
On the flip side, we heard from William “extended period” Dudley (speech - try searching it for “not well founded”) and Daniel “overstated” Tarullo (speech).
Whew!
This appears to be a deliberate attempt to introduce uncertainty ...
Open Mouth Operations cont.
self-evident —
... Daniel Tarullo - Federal Reserve Board. In a speech on 10/8 he bemoaned “the low level of resource utilization in the economy as a whole” and “inflation expected to remain subdued for some time”. Dove. ...
