The president of St. Louis Federal Reserve Bank James Bullard said today that he expects the Fed to double its interest rates by 2022 after the end of the bond-buying program by the middle of next year, although he noted that if necessary, the central bank can accelerate developments, completing the program in the first quarter.
“If inflation is more persistent than we are talking about today, then I think we need to take action a little earlier to keep inflation in check,” Bullard said in an interview with Fox Business Network.
Asked if the Fed could raise interest rates three or four times next year, Bullard said: “This is not our basic scenario right now.”
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Source From: Capital