St. Louis Fed President James Bullard said in a CNBC Squawk Box interview that Fed is already near the end of rate hikes and balance sheet rolloff. And, “the message from my point of view is the normalization process in the United States is coming to an end.”
To him, interest rates are actually too high now. But this is a minority view in FOMC. He further explained that December rate hike was “a step too far” and he “argued against that Move”.
After December’s hike, Bullard noted “a bad reaction in financial markets. I think the market started to think we were too hawkish, might cause a recession.”
