William Wallace Watch
2010-01-11 · Original WordPress address
From MarketWatch: [St. Louis Federal Reserve President James Bullard] said he would like the policy-setting Federal Open Market Committee "to adopt a state-contingent policy rule that would allow for the adjustment of asset purchases as new information on the economy becomes available."
If I don't have my Fed decoder ring on backwards, I would take "state-contingent policy" to be a form of the history contingent policy I predicted the Fed would start talking about. BTW, Bullard wants the market to stop looking at interest rate policy as the only indicator of monetary policy. He's also sitting on the FOMC this year.