First a brief bio about Rogoff:
Rogoff received a B.A. from Yale University summa cum laude in 1975, and a Ph.D. in Economics from the Massachusetts Institute of Technology in 1980.
Early in his career, Rogoff served as an economist at the International Monetary Fund, and at the Board of Governors of the Federal Reserve System.
He is an elected member of the American Academy of Arts and Science as well as a Fellow of the Econometric Society, and a former Guggenheim Fellow.
Rogoff was the Charles and Marie Robertson Professor of International Affairs at Princeton University.
He later served as Economic Counsellor and Director, Research Department of the International Monetary Fund from August 2001 to September 2003.
Rogoff was also in the spotlight because of his dispute with Joseph Stiglitz, a former Chief Economist of the World Bank and 2001 Nobel Prize winner. The dispute was triggered by the critique made by Stiglitz on the International Monetary Fund. Rogoff, in response to the critique, wrote an Open Letter To Joseph Stiglitz.
Rogoff has published extensively on policy issues in international finance, including exchange rates, international debt issues, and international monetary policy. Together with Maurice Obstfeld, he is co-author of a 1996 graduate text/treatise Foundations of International Macroeconomics.
He has published numerous books including;Evolution And Performance Of Exchange Rate Regimes,NBER Macroeconomics Annual 2009, and his most recent best-sellerThis Time Is Different: Eight Centuries of Financial Folly, which I reviewed here.
Rogoff thinks that the Federal Reserve has to do something. He thinks the Fed has to do its upmost to prevent deflation. He thinks the Fed being clearer about their future actions would reduce uncertaintity which is more important than the actual size of future asset purchases.
Rogoff thinks part of the reason the Fed has been ambiguous about the size of QEII is due to the wide disagreements among the Fed about how large the purchases should be.
Rogoff disagress with Bill Gross who has made some negative remarks about QEII.
Rogoff believes most of the good news is not priced into the market. If Rogoff was Fed chairman he says he would raise the inflation target.
The full video is below: