Posted on by

Fed’s James Bullard pushes for faster rate hikes, sees ‘good shot’ at beating inflation



Share

St. Louis Federal Reserve President James Bullard expressed confidence that the central bank can beat inflation and advocated Wednesday for stepping up the pace in the battle.Bullard told CNBC that a more aggressive interest rate hike now would give the rate-setting Federal Open Market Committee a better chance to bring down inflation that, while falling some off the precarious levels of 2022, is still high.”It has become popular to say, ‘Let’s slow down and feel our way to where we need to be.’ We still haven’t gotten to the point where the committee put the so-called terminal rate,” he said during a live “Squawk Box” interview. “Get to that level and then feel your way around and see what you need to do. You’ll know when you’re there when the next move could be up or down.”Those comments come a week after Bullard and Cleveland Fed President Loretta Mester both said they were pushing for a half-percentage point rate hike at the last meeting, rather than the quarter-point move the FOMC ultimately approved.They said they would c …

Read More