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Bullard Speaks, Emerging Markets Await Slew Of Fed Speakers

FED
  • Headlines crossing the terminal from Fed’s Bullard on CNBC, same overall guidance in opening remarks:
    • Says he likes idea of front-loading rate hikes, repeats he favors getting rates to 3.75%-4% this year
  • Goes on to say he has deliberately not talked much about rates in '23
  • Baseline that inflation more persistent than wall street expect with risk of higher for longer.
    • “I don't want to take too much signal from equities”
    • A few stocks can drive things and heavy silicon valley component.
  • Rise in bond yields reflects `better pricing' of risks, markets underpricing risk inflation is more persistent (BBG)
  • Another addition to the schedule - CNBC noting Fed's Bostic will appear on CNBC at 0830 tomorrow.
  • This adds to the updated BBG TV Schedule as follows (all times ET)
    • 7:30 - Adam Posen, President of Peterson Institute for International Economics
    • 9:00 - Patrick Harker, Philadelphia Fed President
    • 9:15 - James Bullard, St. Louis Fed President
    • 9:30 - Raphael Bostic, Atlanta Fed President
    • 9:45 - Jason Furman, Former Council of Economic Advisers Chairman
    • 10:00 - Kristin Forbes, Massachusetts Institute of Technology Professor: Global Economics & Management
    • 11:30 - Loretta Mester, Cleveland Fed President

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