QE2: "Modestly Successful"

St. Louis Federal Reserve President James Bullard was on CNBC this morning and he said that QE2, the Fed's $600 billion bond buying program, has been "moderately successful" so far.

He was positive on 2011, and said GDP will come in better than was thought even just a few short months ago.

"I do think GDP growth will be stronger in 2011 than people thought, and a lot of it is because the holiday season is looking pretty good," Bullard said. "But it is going to be a slow process."

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