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MNI BRIEF: Fed’s Bullard: Market Turmoil Won't Deter Hikes

(MNI) WASHINGTON

St. Louis Fed President James Bullard said Thursday the recent global market turmoil experienced in the UK and elsewhere will not dissuade the Fed from pressing on with its monetary tightening campaign aimed at bringing high inflation down.

“We’re focused on U.S. markets and U.S. fundamentals, and we’re determined to get to the right level of the policy rate in order to put meaningful downward pressure on inflation,” Bullard said on a media call. “Other central banks will have to react to our intentions.”

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St. Louis Fed President James Bullard said Thursday the recent global market turmoil experienced in the UK and elsewhere will not dissuade the Fed from pressing on with its monetary tightening campaign aimed at bringing high inflation down.

“We’re focused on U.S. markets and U.S. fundamentals, and we’re determined to get to the right level of the policy rate in order to put meaningful downward pressure on inflation,” Bullard said on a media call. “Other central banks will have to react to our intentions.”

Keep reading...Show less