8/18, 7:36 PM (Source: TeleTrader)
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Fed to get inflation down to 2% in about 18 months - Bullard

Federal Reserve Bank of St. Louis President James Bullard told the Wall Street Journal on Thursday, in an interview, that he sees the central bank bringing inflation down to its target of 2% in a period of around 18 months.

"We've got a long way to go to get inflation under control," said Bullard adding that the path will be rocky. He underlined that the Fed should act "expeditiously" as he sees no reason for the interest rate hikes to be dragged into 2023.

He asserted that for the September meeting he is leaning "toward the 75 basis points at this point," as he believes getting the rates into restrictive territory would make sense since the country had "relatively good reads on the economy, and we've got very high inflation." Bullard noted that it is too early to raise concerns over the possibility of falling into a recession.

Baha Breaking News (BBN) / AY