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NY Post
New York Post
24 Mar 2023


NextImg:Fed’s James Bullard hikes his own rate forecast as inflation rages

St. Louis Federal Reserve president James Bullard said Friday the US likely will need higher than expected interest rates to contain inflation as the economy remains strong and stress in the banking sector likely eases.

St. Louis Fed President James Bullard expects a range between 5.5% and 5.75% this year, a quarter point higher than he projected.
REUTERS

In comments to reporters Bullard said he thinks the target federal funds rate will need to rise to a range between 5.5% and 5.75% this year, a quarter point higher than he projected in December, “in reaction to strong economic news and also under the assumption that financial stress abates in the weeks and months.”