Central Banks
Fed Can Still Achieve Soft Landing, Bullard Says
- St. Louis chief says base case is slower growth, not recession
- Chicago’s Goolsbee warns bank strains could hurt the economy
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Federal Reserve Bank of St Louis President James Bullard said policymakers will probably have to push rates higher to cool inflation, but said he would wait and see what the data show before deciding what move to support in June.
“The aggressive policy we pursued in the last 15 months has stemmed the rise in inflation, but it is not so clear we are on” a path to 2%, Bullard told reporters following an event in Minneapolis Friday. He said he is willing to assess the economic data as it comes in, but would need to see “meaningful declines in inflation” to be convinced higher rates aren’t necessary.