Fed's Bullard looks for 75 basis points in September
- He is considering supporting for another 75 basis point hike at the September meeting
- he isn't ready to say the economy has seen the worst of inflation surge
- I don't see why you want to drag out interest rate increases into next year
- I think would make sense to get the policy rate higher and into restrictive territory
- important for the Fed to get the target rate to a range of 3.75% to 4% by year end
- he sees about a month process of getting price pressures back to the Fed's 2% target
- the path to lower rates will likely be uneven
- we've got a long way to go to get inflation under control
- the idea that inflation has peaked is a hope; is not statistically in the data at this point
- hopeful that the worst of inflation has passed
- expect high inflation to prove more persistent
- believes growth in the 2nd half of the year will be stronger than the apparent weakness seen in the 1st 6 months of the year
- unemployment could still rise and still herald a robust labor sector
- market speculation of rate cuts is a definitely premature and that fears economy may fall into a downturn or overload
- it's possible stock prices are giving a false impression of the state of asset prices