More from Bullard: I was one of the Fed governors who projected three rate hikes

More from Fed's Bullard:

• Was among those who predicted three rate hikes for 2022 in December
• Balance sheet runoff should begin shortly after initial interest rate increase
• Better to get rate hikes going sooner rather than later. Can slow pace if inflation moderates
• Uncertain how much 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 control will depend on natural moderation versus Fed intervention
• Expects inflation to moderate naturally to some degree, but not dramatically, and still above 3% at end of year
• Balance sheet could decline even below pre-pandemic levels given existence now of standing repo facility
• Good reasons for labor force participation to be lower today than before the pandemic
• Very surprised by level of inflation; incumbent on central bank to act to maintain its credibility
• Pre-pandemic employment level, not a good benchmark of current very tight labor market
• Smaller balance sheet, higher policy rate means both ends of 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 should rise in tandem

Earlier today Bullard said that he could see the first rate rise in March.