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Fed’s Bullard Backs Supersized Hike, Seeks Full Point by July 1

  • ‘Inflationary shock’ needs big response, he says in interview
  • St. Louis Fed chief defers to Powell on size of March increase
James Bullard
James BullardPhotographer: Joshua Roberts/Bloomberg
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Federal Reserve Bank of St. Louis President James Bullard said he supports raising interest rates by a full percentage point by the start of July -- including the first half-point hike since 2000 -- in response to the hottest inflation in four decades.