Federal Reserve Bank of St. Louis President James Bullard discussed “Three Themes for Monetary Policy in 2019” at St. Cloud State University’s 57th Winter Institute on Thursday. The first theme was related to low market-based inflation expectations. Bullard noted that the Federal Open Market Committee (FOMC) may miss its 2 percent inflation target on the low side for the eighth consecutive year in 2019 based on current readings of market-based inflation expectations. The second theme was related to the very weak feedback from labor markets to inflation. “Labor markets have been performing well, but the feedback from ... (full story)