Federal Reserve Bank of St. Louis President James Bullard told the Financial Times in an interview he believes it is a “fantasy” to assume that a neutral stance from the central bank will bring inflation down to pre-pandemic levels. He noted the downward pressure on inflation will be achieved only by elevating rates to a stage that would constrain the financial system and that the consumer price data, released yesterday, further proves the Fed should make a move on rates soon. “I reckon a 50 bps move in May is all but certain at this stage. We’ll just have to see if they have the appetite to stick with a more aggressive path in the following months,” Bullard told the media outlet. NN: They need to have the Fed Funds rate at 6% right now… They are hopelessly behind the 8 ball. And they are starting to figure it out. The Doctors at the Fed do not want the patient to know the economy has terminal cancer. Soon they will begin Chemo.