James Bullard says the first interest rate bump is set to happen in late 2022

James Bullard, President, St. Louis Federal Reserve said that it can be very probable that the first hike in the interest rates is seen in late 2022 and it is going to be more than what has already been presumed. Few days passed, the Federal Open Market Committee released their expected inflation rates and according to them, the rates pick up the highs in 2023.

In his interview, Bullard said that “We’re expecting a good year, a good reopening. But this is a bigger year than we were expecting, more inflation than we were expecting, I think it’s natural that we’ve tilted a little bit more hawkish here to contain inflationary pressures.”