Federal Reserve Bank of St. Louis President James Bullard gave remarks Tuesday on “Monetary Policy Options in a Low Policy Rate Environment” at Goethe University Frankfurt’s Institute for Monetary and Financial Stability Distinguished Lecture. During his presentation, Bullard said, “The most important monetary policy question during the last five years has been how to pursue easier monetary policy when the policy rate is already near zero.” He discussed several policy options—do nothing, forward guidance, quantitative easing (QE), negative interest rates on reserves and the twist program—and concluded that ... (full story)