Local time on Wednesday (February 22), St. Louis Fed President Bullard said that the US economy is more resilient than expected, and the US Fed should continue to raise interest rates in 2023 to avoid the same tragedy as in the 1970s. He is confident the Fed will temper inflation in 2023 and does not think raising interest rates will cause a recession.
Bullard has been one of the most hawkish members of the FOMC since the US economy recovered from COVID-19. He has advocated strong action by the US Fed to curb surging inflation.
