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Bullard Still Favors Hiking Rates to 5.375% as Fast as Possible

  • Fed official says US economy is proving more resilient
  • Walmart sales might be good sign for disinflation, he says
James Bullard
James BullardPhotographer: Ting Shen/Bloomberg
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Federal Reserve Bank of St. Louis President James Bullard said the US economy is proving more resilient than expected and repeated his call for the central bank to keep raising interest rates.

“I think we are going to have to get north of 5%. Right now I’m still at 5.375%,” Bullard told CNBC in an interview Wednesday. “We’ve got a little ways to go here and I’ve argued that ‘hey, let’s get to where we want to go’ and then from there we can see how the data come in. Let’s hope that we get disinflation in 2023.”