Bullard predicts more rate hikes as bank stress eases.
TL;DR
St. Louis Fed President James Bullard raised his outlook for how high interest rates should rise by 25 basis points to 5.625% based on stronger economic data and under the assumption that financial stress weakens in weeks and months ahead. Bullard is optimistic stress in the banking system will abate in the weeks and months ahead, leaving a stronger economy that could force the central bank to push interest rates higher.
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