Fed's Bullard: Even with optimism, it's too early to discuss changes in Fed's bond purchases

Comments from Bullard

• Asked about inflation risk like the 1970s, said the Fed had "very little credibility" then
• Rise in bond yields "a good sign so far"
• Unemployment rate should fall to 4.5% by year end
• Could see a lot of improvement in labor force participation on the basis of school reopening

Same old story from the Fed. The idea they have credibility on anything is pretty laughable.