Fed's Bullard on Normalization Plans, Rates

The transcript discusses the need to rethink monetary policy in light of low productivity growth and low real rates of return. It reviews historical challenges faced by the Fed, such as the Latin American debt crisis and the dot-com boom. Current economic conditions, including low inflation and unemployment rates, are analyzed. Future projections suggest a continuation of the low growth regime, with discussions on interest rates and policy tools like quantitative easing and forward guidance. The potential use of negative rates is debated, with skepticism about their effectiveness in the US context.

What is the speaker's view on the effectiveness of quantitative easing?

How does the speaker respond to the idea of raising interest rates?

What does the speaker imply about the future of monetary policy in the context of low productivity growth?