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MNI BRIEF: Fed’s Bullard - Rates Need to Go Up To 4.5% Range

(MNI) WASHINGTON

The inflation picture is failing to improve, St. Louis Fed President James Bullard says.

The Federal Reserve needs to hike interest rates to around the levels implied in the September SEP because the inflation picture failed to improve and even worsened in the summer months, St. Louis Fed President James Bullard said.

“Unfortunately, the inflation news we received over the summer didn’t go our way,” Bullard said in a webcast. That means rates need to be “closer to 4.5,” he said.

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The Federal Reserve needs to hike interest rates to around the levels implied in the September SEP because the inflation picture failed to improve and even worsened in the summer months, St. Louis Fed President James Bullard said.

“Unfortunately, the inflation news we received over the summer didn’t go our way,” Bullard said in a webcast. That means rates need to be “closer to 4.5,” he said.

Keep reading...Show less