Fed's Bullard: September inflation warrants more frontloading

• Appropriate that rates reach range of 4.50-4.75% by year's end with further hikes being 'data dependent'

Previously, Bullard was talking about a Q1 peak of around 4.5% but now he's talking about 4.50-4.75% by year end. Rates are at 3.00-3.25% currently so that's 75-75 rather than 75-50 as most are anticipating.

So this is a step in the hawkish direction but he's a hawk so it's not necessarily indicative of a shift from the core of the FOMC, but it's a start.

At the same time, he's not talking about boosting the terminal rate so I'm not sure how much shifting around 25 bps from February to December matters.

• Current inversion of the yield curve Yield Curve A yield curve is a line used to help determine interest rates of interest rates for a specific bond, differentiated by contract lengths. This is useful for contrasting maturity dates, for example 1 month, 1 year, etc.In particular, yield curves help underscore the relationship between interest rates or borrowing costs and the time to maturity.Some of the best examples of this include US Treasury Securities, which are among some of the most observed worldwide by traders. By determining the slope A yield curve is a line used to help determine interest rates of interest rates for a specific bond, differentiated by contract lengths. This is useful for contrasting maturity dates, for example 1 month, 1 year, etc.In particular, yield curves help underscore the relationship between interest rates or borrowing costs and the time to maturity.Some of the best examples of this include US Treasury Securities, which are among some of the most observed worldwide by traders. By determining the slope Read this Term a 'nominal inversion' involving expected 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, not an indicator of recession risk

The hubris.