Federal Reserve (Fed) President James Bullard said he expects the U.S. central bank to raise interest rates twice in 2022, after its asset purchase program ends.
Bullard said his view is based on current economic data and his forecast could change over time.
He added that what the Fed can do now is assess the situation in the middle of next year, and at that point they can decide to raise rates.
Based on what is seen today, Bullard sees two rate hikes in 2022, which could change when the economy enters the first half of next year.
Bullard, who is indeed known to be more hawkish than other Fed policymakers, has expressed concern over rising inflation.
In fact, the latest data released on Tuesday showed U.S. wholesale prices rose 8.6% year -over -year in October, the highest annual rate in more than a decade.
However, Chairman Jerome Powell said the US central bank would continue to be 'patient' in raising interest rates even as inflation rose higher.
