Fed's Bullard Says Jackson Hole Attendees are 'Cautiously Optimistic'

Doing an interview with Fox Business at the Fed's annual conference in Jackson Hole, Wyoming, Federal Reserve Bank of St. Louis President James Bullard is making headlines this morning. Below are some highlights:

• household spending will recover slowly
  
• "hopeful" for a strong second half of 2009, with activity increases in Q3 and Q4
  
• 2010 will be the time to worry more about inflation
  
• the Fed's policy exit still lines in the future
  
• the Jackson Hole conference attendees are "cautiously optimistic"
  
• we're on track for GDP growth in Q3 and Q4
  
• main objective of the Fed this year is to avoid a report of the Japanese deflationary experience of the 1990's.

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