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 I hope the U.S. economy repeats the 1994s soft ground results: Fed James Billard

"That tightening episode caused some disruption that year

"That tightening episode caused some disruption that year,” Ballard said at a meeting hosted by the AXA-Barcelona School of Economics in Barcelona, ​​Spain. However, I've always felt that the US economy was doing well in the second half of the 1990s… I hope we get something like that this time.

The US Federal Reserve could quickly raise interest rates this year and boost the "star" economy if it successfully centralizes the central bank's contraction period, James Billard, director of the Federal Reserve of St. Louis, said in a statement. Monday. Day said rerun 1994.

“Safa went wrong that year,” Ballard said at a meeting hosted by the AXA-Barcelona School of Economics in Barcelona, ​​Spain. However, I've always felt that the US economy was doing well in the second half of the 1990s… I hope we get something like that this time.

Bolder supports the Fed's aggressive measures to stem the tide of inflation, which is three times higher than the Fed's 2% target. During the contraction period of 1994, the Federal Reserve raised interest rates by seven percentage points to double six percentage points, including the 75 basis point move and the 50 basis point move. The so-called Federal Reserve, which averted a crisis, has seen a period of rapid growth and a historically hard labor market.

Last week, in response to a worse-than-expected inflation report, the Federal Reserve raised interest rates from three-quarters to 1.50%-1.75%, but now predicts borrowing costs will double that level. In the next few weeks, six months.

Federal Reserve chairman Jerome Powell said last week that he expects the stock to rise 50 or 75 basis points in July and that many policymakers, including the central bank, have since eased interest rate pressures in the event of a shutdown. in their behavior. Be very careful. The crisis seems to support a holistic approach.

On Saturday, Fed Director Christopher Waller called on the Fed to further raise the 75-point mark at its next meeting in July, saying the central bank is now ready to "do everything" to restore interest-rate stability.

Bollard noted that the Federal Reserve still has a long way to go to curb inflation. "We are moving fast, but we are moving from a low level to a very stable monetary policy," he said.