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MNI BRIEF: Fed’s Bullard Wants Rates ‘Expeditiously’ At 3.5%

(MNI) Washington
USPolicyCentral BankEmailFederal ReserveBriefStoryRegionNorth America

The Federal Reserve should move quickly to push interest rates significantly above their neutral level in order to control runaway U.S. inflation, St. Louis Fed President James Bullard said Friday.

“I want 3-½% expeditiously, then at that point we can see where we are. Then we can still if inflation expectations are still going the other way," he said.

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The Federal Reserve should move quickly to push interest rates significantly above their neutral level in order to control runaway U.S. inflation, St. Louis Fed President James Bullard said Friday.

“I want 3-½% expeditiously, then at that point we can see where we are. Then we can still if inflation expectations are still going the other way," he said.

Keep reading...Show less