st louis US Federal Reserve Banker James Bullard has again called for US interest rates to be raised to 3.5 percent by the end of the year in order to curb high inflation. But you can’t get there in one step and the hikes shouldn’t be more than 0.5 percentage points per step, said the president of the St. Louis Fed offshoot on Monday evening. The US economy will not go into recession and the current unemployment rate of 3.6 percent is likely to fall below 3 percent this year.
Bullard added that the war in Ukraine is likely to have a significant impact on economic developments in Europe, but the impact on North America is likely to be limited.
More: Rising inflation continues to put pressure on the ECB.
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