Bullard slams Fed’s 2012 policy

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James Bullard, the president of the Federal Reserve Bank of St Louis, has criticised the Fed's policy choices in 2012, but said policy is now much more effective.

At a banking forum held by Mississippi State University on February 14, Bullard described the Fed's "Operation Twist", which ended in December, as "relatively weak". He added that date-based forward guidance was "somewhat counterproductive" as it had sent signals that the Fed expected the economy to remain weak into 2015.

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