Feds Bullard: Rate hikes have had an impact especially in the housing market

Fed's Bullard on Bloomberg TV:

• Rate hikes have had an impact especially in the housing market
• Have to react if 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 doesn't fall as expected
• Wont predate what remove he backs at December FOMC meeting
• In 2023, if inflation starts to decline meaningfully, Fed can stay where it is at higher rate level
• First have to get to the right rate level and then moved to data dependency
• Does not appear to be a lot of financial stress now in US economy
• Sees possibility of good inflation dynamics in 2023
• Not clear that equity pricing should be main metric of financial liquidity
• US still in low productivity growth regime
• He thinks US GDP will be revised higher for 1st half of the year at some point but too late to be useful for monetary policy
• Fed should not react to declines in the stock market Stock Market A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don Read this Term
• Inflation expectations are looking good now at least based on TIPS market
• Thinks we have the right expectations and markets, and Fed has right policy in place