It’s not just him, the all say ‘quantitative easing’ will ‘work’ when they should now have enough evidence and theory to know all it does is lower interest rates which are already plenty low with regards encouraging lending.
Might just be managing expectations but more likely they still actually believe it.
*DJ Fed’s Bullard: Worried About Possible Deflationary Outcome For US(DJ)
*DJ Bullard: Says More Quantitative Easing Will Work(DJ)
*DJ Bullard: Says Deflation Not Most Likely Economic Scenario(DJ)
*DJ Fed’s Bullard: Most Likely Scenario Is That Recovery Will Continue(DJ)
*DJ Bullard: Acknowledges Weaker US Data Over Last Two Months(DJ)
*DJ Bullard: Euro Zone Has Done Reasonable Job Containing Crisis(DJ)