The recent nonfarm payrolls report was disappointing, but not enough to substantially alter the contours of the U.S. outlook.
Policy is already easy:
Current policy is already very easy, as the policy rate remains near zero and the balance sheet remains large.
Echoing Plosser, he says:
A change in U.S. monetary policy at this juncture will not alter the situation in Europe. (And obviously we´re ready for the European fallout).
So let´s ‘wait & see’, because:
The outlook for 2012 has not changed significantly so far.