St. Louis Federal Reserve Bank President James Bullard on Friday reiterated his view that the U.S. central bank ought to raise interest rates to 3.5% this year to get high inflation more quickly under control.
"The more we can frontload and the more we can get inflation and inflation expectations under control the better off we will be," Bullard said in an interview with Fox Business Network. "And in the out years, '23 and '24, we could be lowering the policy rate because we've got inflation under control."
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