- St. Louis Fed president Bullard: Inflation is going to come down but not as fast as some people want
Market news
4 August 2021
St. Louis Fed president Bullard: Inflation is going to come down but not as fast as some people want
- Notes that the last time we had a run-up in Covid cases in December and January, it did not impact the economy as much as predicted
- U.S. firms and consumers have found ways to work, produce and consume while the pandemic is still going on
- There have been some pretty good macroeconomic outcomes despite the pandemic
- For people in high physical contact jobs, there is still some hesitancy to go back to work because of the pandemic
- We've had a major inflationary shock
- Thinks inflation is going to be more persistent than some people expect
- Sees inflation of 2.5% to 3% in 2022
- Thinks inflation will come down but not as low as some people want
- Does not think there will be a taper tantrum in the markets
- Markets are well prepared for taper
- Labor markets are improving
- Believes Fed should taper more quickly so it can be prepared to react with rates in 2022
- Says he is moderately concerned about the housing market
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