- Fed significantly short on jobs and inflation mandates
- Supports continued phase out of QE3
- Sees ‘a considerable amount of economic slack’
- Predicts growth approaching 3% in Q2
- Taper Process Has Gone Smoothly
- Confident Markets Can Absorb Bond Issuance That Fed Is No Longer Buying
- Unemployment Rate Alone Can't Guide Time To Raise Interest Rates
- Still Very High Bar To Stop Taper Process
- Very Unlikely Economy Would Weaken Enough To Stop Taper
- Fed Still Has Plenty Of Time To Think About Shrinking Balance Sheet
- Downplays Political Concerns Surrounding Fed Exit Tools
- New Qualitative Fed Guidance Should Work Well
- Lockhart: Income Inequality Remains Important Issue