Bullard: Fed will act if economy weakens further

So the Fed will cure our economy by injecting inflation.  That must be their third mandate.  God help us all.

http://finance.yahoo.com/news/Bullard-Fed-will-act-if-rb-162576922.html?x=0&sec=topStories&pos=3&asset=&ccode=

"Should economic performance deteriorate, monetary policy will respond," Bullard said, according to slides of a presentation he was scheduled to make . "The Fed is not now, or ever, 'out of ammunition'."

With interest rates near zero, Bullard said, the Fed can support the economy through inflation and inflation expectations and asset purchases are a "potent tool".

QE to infinity is now officially baked into the cake.