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Fed Has ‘Good Plan’ With Its Half-Point Rate Hikes, Bullard Says

  • St. Louis Fed official doesn’t bring up possible larger move
  • US economy likely to have above-trend growth, he predicts
James Bullard 

James Bullard 

Photographer: Luke MacGregor/Bloomberg

Federal Reserve Bank of St. Louis President James Bullard said he supports the central bank’s plan to raise interest rates in half-percentage-point steps at coming meetings, arguing that this will tackle an inflation rate that’s near a four-decade high.

“The chair has said it looks like we are on course for 50 basis points at the next, the coming meetings,” Bullard said Tuesday in a moderated question-and-answer period before the Energy Infrastructure Council. He said that there were risks facing the outlook and the situation can shift, “but I think we have a good plan for now.”