•May recalibrate late Q1 2015 interest rate lift off view to earlier due to low unemployment rate •If GDP growth at 3% pace and jobless rate continues to drop at current pace through the fall, conversation on monetary policy will change •Unemployment may fall below 6% in second half of 2014 •Sees GDP growth exceeding 3% in Q’s 2, 3 & 4 •Ending reinvestments may be a useful tightening tool If Bullard was voting these comments might have had a bit more of a reaction in the market. (full story)