Dennis Lockhart, Atlanta Fed president is in Brazil and gave a talk at Fundação Getúlio Vargas, the premier economics school in the country:
As the U.S. economy points to a “somewhat better performance,” a top Federal Reserve official on Monday said he prefers “enhancing” the communications strategy rather than other options, such as buying bonds.
“In light of the somewhat better performance of the economy, notwithstanding the slow pace of the reduction of unemployment, I would like to see how the economy evolves and therefore if we’re looking at options I would be looking at communications,” Federal Reserve Bank of Atlanta President Dennis Lockhart said Monday.
A few weeks ago I argued that without an explicit Target there´s not much sense in “improving” communications, and ended saying:
And that, folks puts the Fed in a situation akin to the “dog running in circles to grab his own tail”. It´s going nowhere! And where do you see the economy pointing to a “somewhat better performance” Mr. Lockhart?