St. Louis Fed president favors 75 basis point rate hike

From asia.nikkei.com

St. Louis Federal Reserve president Jim Bullard says he will be in favor of raising the policy interest rate by 75 basis points at the Federal Open Market Committee (FOMC) to be held on July 26 and July 27. The inflation rate for June in the U.S. surged by 9.1%, hitting a new 41-year high. Bullard, in an interview with Nikkei on Wednesday, said that although inflation has not peaked, he expects it to slow down in 2023 -- and he does not support raising the policy interest rate by 100 basis points for now. Edited excerpts of the interview follow. Q: The June headline consumer price index in the U.S. rose 9.1% on a ... (full story)