Fed
Ex Fed Pres. Bullard on CNBC
  • The story of US recession is not materializing
  • Strong jobs report confirmed a reacceleration of the US economy
  • Higher for longer for the Fed
  • Yes we are getting some disinflation which is good, but core PCE at 3.8% is good but still nearly double the 2% target
  • My hope is we contain inflation, get it down to 2% and then have a period of growth
  • Banks have weathered the banking storm so far.
  • Larger banks have not had problems.
  • Banks are managing through risk
  • Maybe one more rate hike. Being data dependent is appropriate.
  • The risk is that inflation goes back up to over 4%.
  • If it does the Fed may have to go to 6% to 6 1/2%. That is not priced in