More from Fed's Bullard: Fed's reaction to pandemic wasn't bad policy

• Fed's reaction to pandemic wasn't bad policy, difficult to know what to do in the middle of a storm
• Fed now has some work to do to bring 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 down
• I have been pleased with US market reaction to Fed policy
• I am hopeful global central bank actions will help contain inflation
• We moved a lot on rates, but from a very low level
• We are moving quickly
• current balance sheet reduction a good pace to start with

Bullard was the most hawkish of the Fed officials coming out of the Covid. He proposed rates going to 3.5% and lo and behold the dot plot has the end of year rate at 3.4%.

He is shifting as rates rise quickly. Admittedly he is not calling the end of the inflation spiral but is less alarmist as policy has progressed along his path.