St. Louis Fed President and voting FOMC member in 2022, James Bullardreiterated on Thursday its call for a 100 basis point hike in Federal Funds interest rates for July 1. His argument was again high inflation.
“We want to stick with the best policy we can and let the market adjust appropriately,” Bullard said in an interview on CNN, adding that this is the time when we need to share less accommodative policy.
“Markets have already done a lot of pricing it in,” Bullard said, adding he didn’t think raising rates would imply recession risk. “Rather, this is the Fed’s first steps away from accommodative policy,” the official continued, noting that labor markets will continue to tighten and inflation is eating into wages.
Source: Fx Street
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