President and CEO of the Federal Reserve Bank of St. Louis James Bullard in Washington on Aug. 6, 2019. (Alastair Pike/AFP via Getty Images) The Federal Reserve must keep raising interest rates in its inflation fight as the U.S. banking turmoil will subside, says St. Louis Fed Bank President James Bullard.
Speaking to the Greater St. Louis Inc. community organization on Friday, Bullard explained that the central bank must lift the benchmark fed funds rate (FFR) higher than previously anticipated, citing prospects for stickier and stubborn inflation and stronger-than-expected economic growth.
Bullard estimated that the institution should increase the policy rate […]
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