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BullardIMFSDistinguishedLecture21May2013Final

BullardIMFSDistinguishedLecture21May2013Final

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Published by: caitlynharvey on May 22, 2013
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07/10/2013

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Monetary Policy Optionsin a Low Policy RateEnvironment
James Bullard
President and CEO, FRB-St. Louis
IMFS Distinguished LectureHouse of Finance—Goethe Universität Frankfurt
21 May 2013Frankfurt-am-Mein, Germany
 Any opinions expressed here are my own and do not necessarily reflect those of others on the Federal Open Market Committee
.
 
Introduction
 
The EU-U.S. macroeconomic situation
Recovery from the financial crisis and the ensuing recessionhas been slower than expected in the U.S.Europe has returned to recession, with uneven effects acrosscountries.Inflation has recently been below target in both the U.S. and Europe.Monetary policy rates remain near zero.What are the monetary policy options?

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