Fed's Bullard: Repeats call for quick end to Fed support for economy to fight high inflation

St Louis Fed President and FOMC member James Bullard on Wednesday reiterated his call for a quick end to Fed support for the US economy in order to fight inflation, reported Reuters. Bullard said that economic risks from the war in Ukraine were likely to be felt more directly in Europe than in the US. Indeed, Bullard said he expects US growth and employment to remain robust and stated that high inflation requires that the Fed "follow through" with rate increases and reductions to the central bank's balance sheet.

Market Reaction

FX markets have not reacted to hawkish remarks from Bullard, which is very much what markets have come to expect from him in recent months.