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Fed's Bullard sees more interest rate hikes ahead and no U.S. recession

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cnbc.com

St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling.

The central bank official said he expects another 1.5 percentage points or so in interest rate increases this year as the Fed continues to battle the highest inflation levels since the early 1980s. «I think we'll probably have to be higher for longer in order to get the evidence that we need to see that inflation is actually turning around on all dimensions and in a convincing way coming lower, not just a tick lower here and there,» Bullard said during a live "Squawk Box" interview on CNBC.

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