{"id":1754902,"date":"2022-11-29T08:07:00","date_gmt":"2022-11-29T13:07:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1754902"},"modified":"2022-11-29T11:06:52","modified_gmt":"2022-11-29T16:06:52","slug":"fed-official-inflation-and-high-interest-rates-likely-to-persist-through-2024","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-official-inflation-and-high-interest-rates-likely-to-persist-through-2024\/","title":{"rendered":"Fed Official: Inflation and High Interest Rates Likely to Persist Through 2024"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffed-official-inflation-and-high-interest-rates-likely-to-persist-through-2024%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1754902&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/justthenews.com\/sites\/default\/files\/styles\/social_media_share\/public\/2022-07\/GettyImages-1397937776.jpg?h=65aa3d03&#038;itok=9rSB00Ih\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Inflation will likely persist into 2024,\u00a0St. Louis Federal Reserve President James Bullard warned on Wednesday, suggesting interest rates could likely surge even higher as the Fed battles rising prices.<\/p>\n<p>&#8220;I think we&#8217;ll probably have to stay there all during 2023 and into 2024,&#8221; Bullard <a href=\"https:\/\/www.bigmarker.com\/barrons-events\/Nov-28-St-Louis-Fed-President-James-Bullard-The-Outlook-for-the-Economy-and-Monetary-Policy?bmid=8093ce370f78\">told<\/a> MarketWatch of high interest rates, estimating they could reach between 5 and 7 percent.<\/p>\n<p>Bullard pointed to low unemployment numbers and indicated the jobs market&#8217;s strength would enable the Fed to tackle inflation head on through more rate hikes.<\/p>\n<p>&#8220;The fact that the labor market is so strong gives us license to pursue our disinflationary strategy now and try to get the inflation under control now. So we don&#8217;t replay the 1970s, where the FOMC at that time took 15 years to get inflation under control,&#8221; he said.<\/p>\n<p>Inflation <a href=\"https:\/\/justthenews.com\/nation\/economy\/inflation-october-77-previous-year\">stood<\/a> at 7.7% as of October, down from a 9.1% high in June. The Federal Reserve <a href=\"https:\/\/justthenews.com\/nation\/economy\/fed-raises-interest-rate-fourth-consecutive-time-attempt-slow-troubling-inflation\">rose interest rates<\/a> by 0.75% earlier this month, for the fourth time this year. Current lending rates range from 3.75% to an even 4%.\u00a0<\/p>\n<p>Minutes from the Federal Open Market Committee implied the Fed may yet raise interest rates by another 75 basis points at its December meeting, The Hill <a href=\"https:\/\/thehill.com\/homenews\/3753057-fed-president-sees-inflation-fight-stretching-into-2024\/\">reported<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation will likely persist into 2024,\u00a0St. Louis Federal Reserve President James Bullard warned on Wednesday, suggesting interest rates could likely surge even higher as the Fed battles rising prices.&#8221;I think<\/p>\n","protected":false},"author":1,"featured_media":1754905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1754902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1754902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1754902"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1754902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1754905"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1754902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1754902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1754902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}