St. Louis Federal Reserve President James Bullard reiterated his call for higher U.S. interest rates to combat inflation, saying he’s not worried about a banking crisis and doesn’t see a recession taking place anytime soon. Bullard made his remarks in an interview with Reuters. He made similar arguments in speech earlier in April. The Fed’s own forecast suggests the central bank might be done raising interest rates soon, with Wall Street betting on one more increase in May. That would nudge the so-called fed funds rate to a range of 5% to 5.25%. Bullard wants the Fed to raise rates to a range of 5.5% to 5.75%. He is not a rotating member this year of the Fed’s interest-rate setting committee.
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