The terminal interest rate could be somewhere around a 5%-7% range, a chart accompanying St. Louis Fed President James Bullard’s remarks suggested.
The Federal Reserve’s benchmark interest rate may need to rise as high as 7% to put downward pressure on inflation, said St. Louis Fed President James Bullard on Thursday.
In his speech in Louisville, Ky,, Bullard said interest rates have not yet reached a level that could be justified as sufficiently restrictive, even with generous assumptions. The St. Louis Fed president said a recession was not his “base case” for the economy. Instead, the data pointed to a period of slow growth, he said.
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