St. Louis Fed President Bullard Releases Research Paper on the “Seven Faces of ‘The Peril’ ”

St. Louis Fed President James Bullard has released a new research paper that argues that the Federal Open Market Committee’s extended period language may be increasing the probability of a Japanese-style deflationary outcome in the U.S. within the next several years. In the paper, “Seven Faces of ‘The Peril,’ ” Bullard concludes that an appropriate quantitative easing policy offers the best hope for avoiding a low nominal interest rate, deflationary outcome.

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From the President

July 29, 2010

Seven Faces of "The Peril"

President James Bullard discusses how the Federal Open Market Committee's current extended period language may be increasing the probability of a Japanese-style deflationary outcome for the U.S. within the next few years and how an appropriate quantitative easing policy offers the best hope for avoiding this outcome.

Summary | Figures | Paper
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