Bullard: Inflation below 1% would likely prompt FOMC action.
He didn’t specify which inflation measure he was referring to or what timeline but here’s PCE core y/y.
PCE core y/y
Other measures also don’t leave much room for error:
- PCE deflator 0.9% y/y
- CPI 1.1% y/y
- CPI ex-food and energy 1.6% y/y
