Business

'Biggest growth quarter of all time' will help inflation meet overhauled target, Fed's Bullard says

1 month ago   |   By Business Insider

Summary List Placement
Third-quarter GDP is on track for 30% growth, and such strong improvement can lift inflation closer to its new target, James Bullard, president of the Federal Reserve Bank of St. Louis, said Friday.
The Federal Reserve's updated policy framework allows for periods of stronger-than-usual inflation to combat weak price growth through the pandemic.
The third quarter is "the biggest growth quarter of all time in the US," and it could bring "more inflation than we have during pre-pandemic era," Bullard said.
The Fed president also expects unemployment to trend lower than...
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Fed's Bullard says 'biggest growth quarter of all time' will lift inflation

Fed's Bullard says 'biggest growth quarter of all time' will lift inflation

1 month ago   |   By CNBC

Bullard also said he sees the unemployment rate falling to 6.5% by the end of the year, an estimate well below the median Fed projection of 7.6%.
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