- Sees need for more accommodation
- Says unconventional policy has been very helpful
- US growth has been not nearly strong enough (QE ain’t been that helpful then has it?)
- Unconventional policies come with more uncertainty
- Accommodation should help fuel global growth (see above)
- Communication of policy is very important, have to account for those that only hear part of the message
Yesterday the government shutdown caused someone to leave the latch open on the Hawk cage as Pianalto and Plosser got out and onto the wires. Now someone’s left the Dove door open.