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Wants to move to ‘live meetings’ on possible rate hike soon


fed

Feds Bullard adds to his hawkish sentiment

Wants to move to ‘live meetings’ on possible rate hike soon

  • the unemployment rate will be below 4% by the first quarter of 2022
  • expects upward revisions to the non-farm payroll in November. It’s a very tight labor market
  • compliance with forecasts of two rate hikes in 2022
  • a faster cut would create an option for it to make more rate hikes if inflation does not subside
  • labor market participation is not the thing to look at when deciding if you have reached the maximum job
  • want to get live meetings soon on the possibility of rate hikes
  • with rapid changes in the data, the Fed may need to respond on a meeting-to-meeting basis
  • growth will slow it down next year, but will still be very fast in a context of productivity gains and better control of the pandemic
  • the adaptation of the economy to Covid 19 so far suggests that we will be able to handle the omicron variant
  • inflation comes partly from supply, partly from increased demand

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