NY Fed's Dudley Cries Inflation Should Be Higher
Let it be known that William Dudley is not alone in his opinion and the new trend appears to be Fed asshats publicly calling for higher inflation since anything less than 2% (4% if you ask some of them) is unacceptable. Since when do they actually say that out loud and with such conviction?
PRINT FASTER, ZIMBABWE BEN!!
Federal Reserve Bank of New York President William Dudley said the outlook for U.S. job growth and inflation is “unacceptable” and that more monetary easing is probably needed to spur growth and avert deflation.
“We have tools that can provide additional stimulus at costs that do not appear to be prohibitive,” Dudley, who serves as vice chairman of the Fed’s policy-setting Open Market Committee, said today in a speech to business journalists in New York. “Further action is likely to be warranted unless the economic outlook evolves in a way that makes me more confident that we will see better outcomes for both employment and inflation before too long.”
Um what? What tools exactly? Janet Yellen doesn't count though she's the biggest tool of them all, what more could the Fed possibly have up its sleeve?
Not a damn thing unless they start securitizing life insurance policies, mattresses, big screen TVs and your cat's hairballs. Whatever it takes!