Bullard Discusses Disinflation, Rate Increases and Economic Resilience on CNBC
February 22, 2023
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During an appearance on CNBC, St. Louis Fed President Jim Bullard discussed disinflation, the federal funds rate and the resilience of the U.S. economy. To help curb inflation, Bullard said his target federal funds rate would be 5 3/8%. The target range for the rate currently is 4.5% to 4.75%.
“I think we can get disinflation with a strong labor market, but we'll have to be credible in our policy and we'll have to react to the data as it comes up,” Bullard said.
Bullard said the U.S. economy might be more resilient than financial markets thought six to eight weeks ago, and he expects moderately slow growth with inflation declining.
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