Federal Reserve Bank of St Louis President James Bullard is pushing for an aggressive series of interest rate hikes to raise rates to 3.5% by the end of the year, allowing and easing in 2023 and 2024. Among the most hawkish of his contemporaries, he says a 75 point basis hike is not off the table.
He feels the likelihood of a recession is low, with a rise in GDP of 2.5-3%, and unemployment possibly dropping below 3% by the end of the year.
