{"id":34400,"date":"2023-11-14T12:03:47","date_gmt":"2023-11-14T12:03:47","guid":{"rendered":"https:\/\/isafespend.com\/news\/former-st-louis-fed-president-says-the-fomc-still-has-a-ways-to-go-on-inflation\/"},"modified":"2023-11-14T12:03:48","modified_gmt":"2023-11-14T12:03:48","slug":"former-st-louis-fed-president-says-the-fomc-still-has-a-ways-to-go-on-inflation","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=34400","title":{"rendered":"Former St. Louis Fed president says the FOMC still has ‘a ways to go’ on inflation"},"content":{"rendered":"
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Former St. Louis Fed President Jim Bullard says the Federal Reserve still has “a ways to go” in fighting inflation and that there is still a risk that prices pick up once again.<\/p>\n

Between March 2022 and July 2023, the FOMC enacted a run of 11 rate hikes to take the Fed funds rate from a target range of 0.25-0.5% to 5.25-5.5%, and inflation has since fallen substantially.<\/p>\n

Although markets now believe interest rates have peaked and have begun looking forward to cuts next year, Bullard \u2014 who stepped down as head of the St. Louis Fed in August \u2014 suggested the central bank’s work is far from over.<\/p>\n

“It’s been so far so good for the FOMC. Inflation has come down, core PCE inflation on a 12-month basis down from 5.5% to 3.7% \u2014 pretty good but that’s still only halfway back to the 2% target so you’ve still got a ways to go,” he told CNBC’s Joumanna Bercetche on the sidelines of the UBS European Conference in London.<\/p>\n

“I think you have to watch the data carefully and it’s very possible that inflation will turn around and go the wrong way.”<\/p>\n

October’s consumer price index slated for release Tuesday is expected to show an increase of 0.1% month-on-month and 3.3% annually, according to a Dow Jones poll of economists.<\/p>\n

“That’s just one month’s number, but still I think the risk for the FOMC is that the nice disinflation that we’ve seen over the last 12 months won’t persist going forward and then they’ll have to do more,” Bullard said.<\/p>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Former St. Louis Fed President Jim Bullard says the Federal Reserve still has “a ways to go” in fighting inflation and that there is still a risk that prices pick up once again. Between March 2022 and July 2023, the FOMC enacted a run of 11 rate hikes to take the Fed funds rate from<\/p>\n","protected":false},"author":1,"featured_media":34401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-34400","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nFormer St. Louis Fed president says the FOMC still has 'a ways to go' on inflation | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Former St. Louis Fed President Jim Bullard says the Federal Reserve still has "a ways to go" in fighting inflation and that there is still a risk that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=34400\" \/>\n<meta property=\"og:locale\" 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