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Fed’s Bullard wants U.S. rates a full percentage point higher by July -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – James Bullard, President of St. Louis Federal Reserve Bank speaks during a lecture held in Singapore on October 8, 2018. REUTERS/Edgar Su

By Ann Saphir

(Reuters). James Bullard of St. Louis Federal Reserve Bank stated Thursday that he had become dramatically more hawkish due to the hottest inflation rate in almost 40 years. Bullard now desires a full percentage point increase in interest rates for July 1.

Bullard said in an interview to Bloomberg News that 100 basis points would be needed in order for inflation to start by July 1. This is after Bullard mentioned the findings of a government report showing that inflation increased 7.5% between January and February.

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