Fed’s Bullard says you could argue this is one of the tightest jobs markets in decades

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Bullard on TV

Bullard on TV
  • On jobs, you have to think about where the labor market will be at the end of the taper
  • Fed is fine if inflation moderates quickly but we may need to put downward pressure on prices if inflation lasts longer
  • QE purchases don’t have much value right now
  • Repeats that he would like to taper now and finish by the end of Q1
  • The Fed needs optionality in the case that inflation doesn’t moderate

The bond market continues to sell off with US 10-year yields now at the highs of the day at 1.356%.

If Powell delivers anything like what we’ve heard from Bullard, there will be carnage in equity markets.

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