QE2 is classic monetary policy: Fed’s Bullard
James Bullard, the president of the St Louis Federal Reserve, on Thursday explained how monetary policy can be eased aggressively even when the policy rate is near the zero bound.
At the opening keynote address at the St Louis Federal Reserve's Quantitative Easing Conference in St Louis, Missouri, Bullard said: "Quantitative easing two has shown that the Fed can conduct an effective monetary stabilisation policy even when policy rates are near zero."
Bullard said the financial market effects of
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