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Fed Out of Firepower? More Stimulus Needed: Economists

Last week an ex-FOMC member stole the spotlight, although likely at least partially at the behest of the current Federal Reserve Chairman Jay Powell, who seems to have kicked off an economist-run pro-stimulus messaging campaign a few weeks ago at the National Association of Business Economists (NABE).  Former New York Fed Governor William Dudley penned a provocatively and ominously titled Op-Ed in Bloomberg; "The Fed Is Really Running Out of Firepower." The message to policymakers is clear.

Last week an ex-FOMC member stole the spotlight, although likely at least partially at the behest of the current Federal Reserve Chairman Jay Powell, who seems to have kicked off an economist-run pro-stimulus messaging campaign a few weeks ago at the National Association of Business Economists (NABE).  Former New York Fed Governor William Dudley penned a provocatively and ominously titled Op-Ed in Bloomberg; "The Fed Is Really Running Out of Firepower." The message to policymakers is clear. 

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