James (Jim) Bullard

speaker
126 appearances 1 recordings 1 series first heard Jul 2026 last heard 7 Jul

James (Jim) Bullard’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

Appearances

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I think even people inside the Fed feel that all of these issues should be thoroughly re examined.
And so this is a good best practice, I think, for any organization.
It would be a mistake though to think that nothing's been done up Telmao.
I mean, these things have all been pretty much continually discussed.
They are treated as settled topics, but they're not settled.
So communication, I think, was probably the key one.
And there has been dissatisfaction across the board about communication, I would say.
We're in the Voker regime, so you have to respond strongly in order to get inflation back down to two percent.
And the committee did that in twenty twenty-two and twenty twenty-three, and now it's facing a milder challenge to that today.
But the question is, what happens when there's a gigantic shock and interest rates go to zero?
And then how are you going to conduct policy in that world?
And I think the
overwhelming tendency um both among commentators and people inside the Fed is to kind of wish that wouldn't happen or pretend that's not gonna happen again.
And gosh, we were in that situation for 10 years.
Was it really appropriate just to wish that way?
So I think the committee could do more to say that look, if we've got something like the pandemic or the global financial crisis again, and at some point you will, this would be our toolkit for that situation.
And that's a little different from the situation where inflation's above target.
So I would like to see that.
I'm not too optimistic that we're gonna see that.
The most recent framework review basically went back to a more plain vanilla description of monetary policy when inflation is very close to target and you're just going among pretty close to steady state.
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