Federal Reserve Bank of St. Louis President James Bullard presented “The Monetary-Fiscal Policy Mix and Central Bank Strategy” (PDF) on Friday at a conference hosted by Stanford University’s Hoover Institution. Bullard said that the pandemic fiscal-monetary response created too much inflation. To eliminate the excess inflation, the fiscal-monetary response must be countered, he noted, adding that this is happening. “The fiscal stimulus is receding, and monetary policy has been adjusted rapidly in the last year to better align with traditional central bank strategy,” he said. “Accordingly, the prospects for continued ... (full story)