St Louis Fed President Jim Bullard interview, comments on Twitter:
More:
- “I would like to see improvements across a range of indicators of inflation, not just one measure ticking down a little bit but clear and convincing evidence.”
- Bullard on core factors driving inflation higher: “It’s going to be much harder to get that to turnaround.”
- “We may see some relief in the headline CPI tomorrow but the reason we tend to track core PCE inflation is exactly because we ignore the energy price movement on the way up but also on the way down.”
- still wants to get rates at 3.75% to 4% range by year end and then see what happens in the first quarter of next year and see if more hikes are needed.
- Bullard on rates: “I think the destination is a little bit higher than what I would have thought even a couple months ago because inflation has continued to broaden out and doesn't look like it's turning the corner at least based on the evidence we have today.”
- “I think it’s too early to make the claim” that inflation has peaked.”
Comments come via that Twitter feed.
