St. Louis President: Fed’s credibility will be shaken as US inflation soars
St. Louis President: Fed’s credibility will be shaken as US inflation soars.
Last week, the US Department of Labor released its Consumer Price Index (CPI) report, which found inflation had risen to 7.5%. According to the report, Moody’s Analytics notice that the average US household is expected to pay between $250 and $276 per month due to rising inflation.
James Bullard – The President of the Federal Reserve Bank of St. Ludwig
Since the beginning of the year, the purchasing power of the US dollar has fallen, while the prices of goods and services have risen.
Ryan Sweet, senior economist at Moody’s, explains that many Americans are feeling the brunt of inflationary pressures.
“Many people suffer from the high inflation. $250 a month – that’s a big burden. It really emphasizes the “What’s the cost of inflation?” point of view.
The 12th CEO and President of the Federal Reserve Bank of St. Louis, James Bullard, gave comment also on Monday (February 14).
“Inflation is bad for low- and middle-income households right now. People are dissatisfied, consumer confidence is falling. This is not a good situation. We need to reassure people that we will defend our inflation target and go back to 2%.”
“I have limited understanding of this report, but the last four reports, conducted in parallel, have shown that inflation in the US economy is widening and possibly accelerating,” Bullard said of the report. Labor Department’s January release was released last week.
In an interview with CNBC’s “Squawk Box,” Bullard added:
“I think we need more relocation plans than before. We were surprised by the increase in inflation – a very high level. The central bank’s credibility is shaky and we need to act on the data. However, I think we can do it in an organized way that doesn’t affect the market.”
The Fed’s sharp and sudden rate hike could really affect the market
The stock market felt the sting of the US economy as the Nasdaq, NYSE and Dow Jones all fell on Monday. The data shows that the bond market has also signaled that investors are concerned about the Fed’s decision.
“It is true that inflation is too high and is really hitting the pockets of average Americans in many different sectors. The Federal Reserve is actively focused on it,” said Mary C. Daly, President of the San Francisco Federal Reserve Bank.
Mary C. Daly also spoke about the Fed’s approach to inflation, but stressed the need for “a prudent approach.”
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Author
Market
St. Louis President: Fed’s credibility will be shaken as US inflation soars
St. Louis President: Fed’s credibility will be shaken as US inflation soars.
Last week, the US Department of Labor released its Consumer Price Index (CPI) report, which found inflation had risen to 7.5%. According to the report, Moody’s Analytics notice that the average US household is expected to pay between $250 and $276 per month due to rising inflation.
James Bullard – The President of the Federal Reserve Bank of St. Ludwig
Since the beginning of the year, the purchasing power of the US dollar has fallen, while the prices of goods and services have risen.
Ryan Sweet, senior economist at Moody’s, explains that many Americans are feeling the brunt of inflationary pressures.
“Many people suffer from the high inflation. $250 a month – that’s a big burden. It really emphasizes the “What’s the cost of inflation?” point of view.
The 12th CEO and President of the Federal Reserve Bank of St. Louis, James Bullard, gave comment also on Monday (February 14).
“Inflation is bad for low- and middle-income households right now. People are dissatisfied, consumer confidence is falling. This is not a good situation. We need to reassure people that we will defend our inflation target and go back to 2%.”
“I have limited understanding of this report, but the last four reports, conducted in parallel, have shown that inflation in the US economy is widening and possibly accelerating,” Bullard said of the report. Labor Department’s January release was released last week.
In an interview with CNBC’s “Squawk Box,” Bullard added:
“I think we need more relocation plans than before. We were surprised by the increase in inflation – a very high level. The central bank’s credibility is shaky and we need to act on the data. However, I think we can do it in an organized way that doesn’t affect the market.”
The Fed’s sharp and sudden rate hike could really affect the market
The stock market felt the sting of the US economy as the Nasdaq, NYSE and Dow Jones all fell on Monday. The data shows that the bond market has also signaled that investors are concerned about the Fed’s decision.
“It is true that inflation is too high and is really hitting the pockets of average Americans in many different sectors. The Federal Reserve is actively focused on it,” said Mary C. Daly, President of the San Francisco Federal Reserve Bank.
Mary C. Daly also spoke about the Fed’s approach to inflation, but stressed the need for “a prudent approach.”
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Latest
Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x
AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!
Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations
Press Release
AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!
Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals
