Fed's Bullard: His projection has rates reaching 5.375%

Bullard puts the Awk in Hawk - If he's 'only' looking for 5.375%, Mr Market is WAYYYYY too hawkish

Reuters on Bullard

Fed's Bullard on the Wires:

U.S. ECONOMY IS STRONGER THAN WHAT WE PREVIOUSLY THOUGHT

FED WILL HAVE TO GO NORTH OF 5% TO TAME INFLATION Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term

WE'VE GOT A LITTLE WAYS TO GO

STILL THINK WE CAN GET INFLATION DOWN WHILE MAINTAINING A STRONG LABOR MARKET

STILL IN A LOW PRODUCTIVITY GROWTH REGIME

FED SHOULD ONLY SLOW DOWN ONCE IT'S GOT TO THE TERMINAL RATE

MARKETS MAY BE OVERPRICING RISK OF RECESSION IN 2023

I FORECAST MODERATELY SLOW GROWTH THIS YEAR WITH INFLATION DECLINING

IF IT DOESN'T THEN WE WILL HAVE TO ACT

THAT'S WHY FED NEEDS TO BE SHARP NOW AND GET INFLATION UNDER CONTROL THIS YEAR

THIS IS THE AGE OF FORWARD GUIDANCE, SO ECONOMIC LAGS ARGUMENTS MAKE LESS SENSE NOW