Fed's Bullard advocates for additional rate hikes to combat inflation.

St. Louis Federal Reserve President James Bullard has dismissed concerns of a recession in the near future, stating that the US central bank should continue raising interest rates due to persistent inflation and a strong labor market. Bullard believes that the economy is poised to continue growing, albeit slowly, and that the recent stress in the banking sector is not indicative of a crisis. He also feels that the policy rate will need to rise another half of a percentage point beyond the current level, to between 5.50% and 5.75%.