Bloomberg Surveillance
Surveillance: Bullard on a Soft Landing
Sep 21, 2023
Former St. Louis Fed President Bullard discusses the prospects for a soft landing. Kochugovindan reacts to BOE rate decision. Morse says there is no longer an oversupply of oil. Juckes discusses the FX market amid central bank decisions. Levy talks about the recent sale of star striker Harry Kane.
36:55
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Quick takeaways
- Former Fed President Bullard believes the Fed's 'higher for longer' approach is appropriate given the absence of a recession and the need to bring inflation back to the target rate of 2%.
- Edward Morris highlights the factors behind the increase in oil prices, including countries with surplus capacity cutting back on production for higher revenues and China's strategy of buying low and selling high, resulting in substantial inventory buildup.
Deep dives
The Fed's Decision on Interest Rates and Inflation Outlook
Former St. Louis Fed President, James Bullard, shares his views on the dot plot and the Federal Reserve's decision to leave interest rates unchanged. He believes the Fed's 'higher for longer' approach is appropriate given the absence of a recession and the need to bring inflation back to the target rate of 2%. Bullard also discusses the potential risks of inflationary pressures in the U.S. economy and the importance of monitoring core inflation closely. He highlights the positive outlook for the labor market and the potential for a soft landing, but emphasizes the need for continued vigilance in managing inflation.
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