Fed dove Bullard: the FOMC has kept rates low Fed dove Bullard: the FOMC has kept rates low despite better news on the real economy and has not shifted market expectations toward an earlier and higher rate policy path, raising questions about the nature of the Fed's reaction function to incoming data. One possible explanation for keeping accommodative policy in place is low inflation readings, after the Fed overestimated inflation in 2013-14 and missed the large decline in unemployment (So, trust us now; analysts haven't gotten it right in years). That said, he doesn't view the level of inflation as low enought to justify a policy rate of zero. This is consistent with past equivocal remarks by the non-voter.
BofA/Merrill European economist to hold an analyst/industry conference call Chief European Economist Moec, along with Head of EMEA and APAC Rates Research Preusser and Head of G10 FX Strategy Europe Vamvakidis, discuss their expectations and outcome implications, ahead of the January 25th Greek Elections and the January 22nd European Central Bank Meeting, on an Analyst/Industry conference call to be held on January 21 at 10 am.