James Bullard, the president of the Federal Reserve Bank of St. Louis, has been a strong proponent, or maybe it’s more predictor, of the need for higher interest rates. A new interview with Reuters shows that he’s still for further benchmark rate hikes, even more so than some others at the Fed. And yet he also doesn’t expect either a recession of a banking crisis in the immediate future.

Bullard has been on record as saying the benchmark federal funds rate would need to top 5% and perhaps reach as high as 7%. In this most recent interview, he stepped back from the high end but still sees a greater total hike than many others at the Fed.

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Erik Sherman

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