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Bullish Price Sequence

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St. Louis Fed President Bullard ('22 voter) reaffirmed his now accustomed hawkish tone in his latest round of comments, pointing to a U.S. economy that has now fully recovered from COVID (he expects 5.8% GDP growth in '21, followed by 4.5% in '22). Bullard highlighted the tight labour market situation, going on to underscore the need for the Fed to be ready to act if high inflation persists (he also flagged upside risks to prices). In terms of the tapering dynamic, Bullard reaffirmed his previous comments re: his belief that tapering will be announced come the end of the November FOMC, while he suggested that the Fed is now past the point of any sort of taper tantrum.