Commentary
Recession indicators are becoming more insistent.
Yet, the Federal Reserve remains focused on its inflation fight. As noted in “No Landing Scenario,” the Fed maintains a “hawkish” bias despite the markets not listening. As such:
• “I wouldn’t rule out supporting a 50 basis-point March hike,” said James Bullard, president of the Federal Reserve Bank of St. Louis.
• “The Fed risks a replay of the 1970s if it can’t lower inflation soon,” said Bullard.
• “At this point, I see the policy rate in the range of 5.25 percent to 5.5 percent as appropriate,” said Bullard.
• “The return to price stability will be painful,” said Bullard.
• “It’s not always going to be, you know, 25 [basis points],” said Loretta Mester, president of the Federal Reserve Bank of Cleveland.
• “As we showed, when the economy calls for it, we can move faster. And we can do bigger increases at any particular meeting,” said Mester….
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