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- Fed's Bullard: We have a serious inflation problem in US
Fed's Bullard: We have a serious inflation problem in US
St. Louis Federal Reserve Bank President James Bullard said on Tuesday that they have a serious inflation problem in the US, as reported by Reuters.
"The credibility of inflation targeting regime is at risk," Bullard added and argued that they must no recreate the volatile 1970s era. "The labor market is very strong, this gives us room to take care of inflation as soon as we can."
Market reaction
These comments were largely ignored by market participants and the US Dollar Index was last seen losing 0.3% on the day at 113.76.
Additional takeaways
"US policy rate arguably now in restrictive territory."
"More rate rises to come in future meetings."
"Strict comparisons with Volcker are inappropriate now."
"Likely peak for policy rate is around 4.5%."
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