Fed will likely need to keep interest rates above 5% into 2024 to succeed in taming inflation, Bullard says

11/29 00:08

The Federal Reserve will likely need to keep its benchmark policy rate north of 5% for most of 2023 and into 2024 to succeed in taming inflation, said St. Louis Fed President James Bullard during an interview with MarketWatch. "I think we'll have to stay there all during 2023 and into 2024," Bullard told MarketWatch's economics editor Greg Robb. "They will come down I think, that's my baseline, but they probably won't come down as fast as markets would like," Bullard said.

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