Surveillance: Yield Curve Control With Fed's Bullard
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 23 June 2020
⏱️ 42 minutes
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Summary
Jim Bullard, St. Louis Fed President, says there are more questions than answers about yield curve control right now. Jonathan Golub, Credit Suisse Chief U.S. Equity Strategist, says government action has massively prevented the amount of company bankruptcies throughout this recession. Megan Greene, Harvard Kennedy School Senior Fellow, says it will be difficult to avoid a double dip recession without state and local funding from the federal government. Chris Krueger, Cowen Managing Director, describes how crucial the November election will be for President Trump.
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Transcript
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| 0:10.8 | And context changes everything. Go to Bloomberg.com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
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| 0:46.0 | It has been 12 years, 12 years, since Jim Bullard has held court in St. Louis. |
| 0:52.0 | It has been an extraordinary set of opinions by Mr Bullard |
| 0:55.9 | over those 12 years and of course landmark was his a number of years ago |
| 1:00.8 | discussion of regime change and what that means for the Fed. of various and sundry chairman nobody nailed the dot plot like Jim Bullard. |
| 1:16.5 | What you see now in the lousy dot plot and everybody knows my opinion on it is right where |
| 1:21.4 | Jim Billard thought we would be with some real worries of |
| 1:24.6 | disinflation and deflation. Jim Bullard joins us today the president of the |
| 1:29.4 | St. Louis Fed. Jim Bullard, are we so messed up right now that we're finally once and for all going to shift to the targeting of nominal GDP instead of a real GDP analysis? |
| 1:44.0 | I've been an advocate, as you know, |
| 1:46.6 | nominal GDP targeting and its close cousin price level |
| 1:51.3 | targeting. The committee is still formulating about its |
| 1:56.0 | framework review and hopefully we'll get some statement out on that sometime during the rest of this year, but it's up to the |
| 2:05.2 | chairman to drive that process. Mr Orrifenitis a year ago wrote a landmark |
| 2:10.0 | paper I believe in the Greenspan Fed about the toolkits that are out there and the |
| 2:15.1 | toolkits that are available. What does the Bullard and the Fed toolkit look |
| 2:19.9 | right now? It seems like you've exhausted an awful lot of the useful tools. |
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