St. Louis Federal Reserve President Jim Bullard joined CNBC on Monday morning. Bullard warned viewers that the high US inflation in the US puts the Federal Reserve’s credibility on the line.
This comes after the latest inflation number of 7.5% was announced last week.
Jim Bullard: “We’ve been surprised to the upside on inflation. This is a lot of inflation on the US economy, 7.5% on the headline CPI. These are numbers that Alan Greenspan never saw, that haven’t occurred in 40 years. So, our credibility is on the line here and we do have to react to data. However, I think we can do it in a way that’s organized and not disruptive to markets.”
“We’ve been surprised to the upsde on #inflation. This is a lot of inflation in the US economy … our credibility is on the line here and we do have to react to data,” says @stlouisfed President Jim Bullard tells @steveliesman. pic.twitter.com/nUw79Vo6zB
— Squawk Box (@SquawkCNBC) February 14, 2022