James Bullard on the Inflation Report: It Came in as Expected So, No Surprise at All

RUSH EXCERPT:
BULLARD: "Markets have interpreted it that way but it is puzzling because this inflation report came in as expected so in a way, no surprise at all. the core issue for the committee still remains, the preferred measure of inflation, has been running over 3%, over 3% in 2023 for the year in 2024 for the year, 2025 for the year and now they are projecting 2026 that will be over 3%, four years running according to the committee projections that are 3% inflation, chair warsh wants to get inflation down to 2. 4%. that is the core issue for the committee and I don’t think this inflation report changed that."