IDEAS home Printed from https://ideas.repec.org/p/fip/fedlps/94557.html
   My bibliography  Save this paper

Bullard Discusses Inflation, Rate Increases and Economic Growth on CNBC

Author

Abstract

During an appearance on CNBC, St. Louis Fed President Jim Bullard offered his perspective on inflation, the federal funds rate and the U.S. economy. While acknowledging that the U.S. had two quarters of negative growth in gross domestic product (GDP), Bullard said that with all the job growth in the first half of this year, it’s hard to say there was a recession. And he said he expects third-quarter GDP growth to be reasonably good. “I think we’ll get positive GDP growth in the second half” of the year, he said. On managing inflation, he reiterated his call to increase the federal funds rate to 3.75% to 4% by the end of the year. Bullard also reiterated the Fed’s commitment to returning inflation to 2% over time. “I think we're going to have to see convincing evidence across the board—headline and other measures of core inflation all coming down convincingly—before we'll be able to feel like we're doing enough and we're doing a good job,” Bullard said.

Suggested Citation

  • James B. Bullard, 2022. "Bullard Discusses Inflation, Rate Increases and Economic Growth on CNBC," Speech 94557, Federal Reserve Bank of St. Louis.
  • Handle: RePEc:fip:fedlps:94557
    as

    Download full text from publisher

    File URL: https://www.stlouisfed.org/from-the-president/video-appearances/2022/bullard-cnbc-2022-08-03
    File Function: Description and embedded video
    Download Restriction: no

    File URL: https://www.cnbc.com/video/2022/08/03/st-louis-fed-pres-bullard-hard-to-call-a-recession-with-a-strong-job-market.html
    File Function: Part 1 video
    Download Restriction: no

    File URL: https://www.cnbc.com/video/2022/08/03/st-louis-fed-pres-bullard-it-will-take-a-while-for-inflation-to-return-to-2-percent.html
    File Function: Part 2 video
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    inflation; federal funds rate;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedlps:94557. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anna Oates (email available below). General contact details of provider: https://edirc.repec.org/data/frbslus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.