Inflation likely to be more persistent than expected, says Fed’s Bullard

By: News Team

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St. Louis Fed President James Bullard said on Thursday he expects high inflation to be more persistent than many expected and interest rates are not yet high enough to begin to reduce price pressures.

In an interview with CNBC in Jackson Hole, Wyoming, Bullard repeated that he would like to see the Fed’s benchmark rate rise from its current range of 2.25% to 2.50% to between 3.75% and 4% by the end of the week. of the year, adding that the movement appeals to him because “it shows that he is serious about fighting inflation.”

“A base case scenario would probably be that inflation will be more persistent than many on Wall Street expect, and that it will be higher for longer, and that is a risk that is undervalued in markets today,” Bullard said.

1 thought on “Inflation likely to be more persistent than expected, says Fed’s Bullard”

  1. “, Bullard repeated that he would like to see the Fed’s benchmark rate rise from its current range of 2.25% to 2.50% to between 3.75% and 4% by the end of the week. of the year,”

    That needs correction. I think it should just say end of year.

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