4/19/2022, 12:05 AM (Source: TeleTrader)
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Fed's Bullard: Inflation out of control if we don't act

The President of the St. Louis Federal Reserve James Bullard stated on Monday that the inflation rate expectations could go out of control if the Fed doesn't act in time.

Bullard also noted that he is still in favor of getting interest rates at 3.5% by the end of 2022, but highlighted that the Fed will likely not go above raising the rate by half a point at all the six remaining meetings.

"We want to get to neutral expeditiously, I guess is the word of the day. I've even said we want to get above neutral as early as the third quarter and try to put further downward pressure on inflation at that point," he added.

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