Fed's Bullard says 2023 on track to be a 'disinflationary year'

High U.S. inflation is likely to recede in 2023 thanks to aggressive Federal Reserve efforts to raise interest rates and cool off the economy, a senior central bank official said.

The... High U.S. inflation is likely to recede in 2023 thanks to aggressive Federal Reserve efforts to raise interest rates and cool off the economy, a senior central bank official said. The Fed last month raised its benchmark short-term interest rate to a range of 4.25% and 4.5% and signaled it could top 5% in 2023. The central bank had kept the rate near zero during the pandemic to try to prop up the economy.

A restrictive level of interest rates, in Fed jargon, is one that slows economic growth. Higher rates raise the cost of borrowing for consumers and businesses and cause them to spend, invest and hire less.Bullard was the first senior official at the central bank to warn last year that the Fed was misjudging inflation. His prescription for tougher monetary policy has largely been adopted after other Fed officials recognized their error.

Source: Financial Digest (financialdigest.net)

🤡🤡🤡

CPI down 30% since June. But the Fed members refuse to ever admit a mistake.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ex-Fed chair Alan Greenspan's top quotes for 2023: recession, FTX, and dollar dominanceFormer Fed chair Alan Greenspan warned a US recession is on its way and slammed failed crypto exchange FTX in a recent Q&A. Here are the 10 best quotes. He's still alive! 🫢 He’s wrong Why would anyone believe anything this guy says? He’s been wrong with his economic predictions for a generation
Source: BusinessInsider - 🏆 729. / 51 Read more »

EUR/USD rises back above 1.0600 as Fed officials eye no rate cuts in 2023EUR/USD holds to the 1.0600 figure after the Federal Reserve (Fed) unveiled December’s monetary policy minutes which showed that policymakers remain r
Source: FXStreetNews - 🏆 14. / 72 Read more »

Interest rates on mortgages, cars, and credit cards will go up in 2023: FedWe just got confirmation that interest rates on mortgages, cars, and credit cards will keep getting more expensive in 2023
Source: BusinessInsider - 🏆 729. / 51 Read more »

The 2023 Mercedes-Benz EQS sedan: A luxurious and high-tech EV with thrilling performanceThe EQS electric sedan is Mercedes' biggest, fanciest, and sportiest sedan in the EQ line. Pricing starts at $104,400. Damn! What kind of bribes were paid to have this article written? Can I turn on the heat in winter? Yeah. Just try to get one. Availability is meagre.
Source: MarketWatch - 🏆 3. / 97 Read more »

‎Phase Zero: Episode 3x01: 2023 MCU Movie & TV Preview Show on Apple Podcasts2023 MCU preview episode of PhaseZeroCB just dropped. 5 Marvel movies & 5 Marvel shows with special guest AshCrossan, host of Marvel's Hall H panel at SDCC! Download & subscribe- Apple: Spotify: YouTube:
Source: ComicBook - 🏆 65. / 68 Read more »

Fed's Kashkari: Fed must avoid cutting rates prematurelyMinneapolis Federal Reserve (Fed) President Neel Kashkari said on Wednesday that the Fed must avoid cutting the policy rate prematurely and having inf
Source: FXStreetNews - 🏆 14. / 72 Read more »